Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a sell rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Old Line Bancshares is the parent company of Old Line Bank, a Maryland chartered commercial bank headquartered in Waldorf, Maryland. Old Line Bank’s primary market area is the suburban Maryland (Washington, D.C. suburbs) counties of Prince George’s, Charles and northern St. Mary’s. It also targets customers throughout the greater Washington, D.C. metropolitan area. “

A number of other analysts have also recently weighed in on the company. ValuEngine cut Zions Bancorporation NA from a hold rating to a sell rating in a research note on Wednesday, March 20th. BidaskClub cut Zions Bancorporation NA from a sell rating to a strong sell rating in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $34.50.

Old Line Bancshares, Inc. (MD) stock opened at $26.41 on Wednesday. Old Line Bancshares, Inc. has a 1-year low of $24.12 and a 1-year high of $35.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $449.48 million, a PE ratio of 12.06 and a beta of 0.61. The company has a fifty day simple moving average of $25.54.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.04). Old Line Bancshares, Inc. (MD) had a net margin of 22.16% and a return on equity of 10.18%. The business had revenue of $26.07 million during the quarter, compared to analyst estimates of $27.17 million. As a group, analysts anticipate that Old Line Bancshares, Inc. will post 2.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Thursday, June 13th. Old Line Bancshares, Inc. (MD)’s dividend payout ratio is presently 21.92%.

Several hedge funds have recently modified their holdings of the business. Marshall Wace LLP purchased a new position in shares of Old Line Bancshares, Inc. (MD) during the first quarter worth about $245,000. Banc Funds Co. LLC grew its holdings in shares of Old Line Bancshares, Inc. (MD) by 34.3% during the first quarter. Banc Funds Co. LLC now owns 288,263 shares of the bank’s stock worth $7,186,000 after purchasing an additional 73,577 shares during the last quarter. ClariVest Asset Management LLC grew its holdings in shares of Old Line Bancshares, Inc. (MD) by 5.9% during the first quarter. ClariVest Asset Management LLC now owns 25,100 shares of the bank’s stock worth $626,000 after purchasing an additional 1,400 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Old Line Bancshares, Inc. (MD) by 14.3% during the first quarter. Jennison Associates LLC now owns 501,440 shares of the bank’s stock worth $12,501,000 after purchasing an additional 62,682 shares during the last quarter. Finally, Penn Capital Management Co. Inc. grew its holdings in shares of Old Line Bancshares, Inc. (MD) by 26.1% during the first quarter. Penn Capital Management Co. Inc. now owns 114,405 shares of the bank’s stock worth $2,852,000 after purchasing an additional 23,703 shares during the last quarter. 50.35% of the stock is currently owned by institutional investors.

About Old Line Bancshares, Inc. (MD)

Old Line Bancshares, Inc operates as the bank holding company for Old Line Bank that provides banking products and services to small and medium size businesses, entrepreneurs, professionals, consumers, and high net worth clients. The company accepts a range of deposit products, including demand, NOW, money market, and savings accounts, as well as certificates of deposit.

Further Reading: What Factors Can Affect Return on Equity?

Get a free copy of the Zacks research report on Old Line Bancshares, Inc. (MD) (OLBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Old Line Bancshares Inc. (MD) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Line Bancshares Inc. (MD) and related companies with MarketBeat.com's FREE daily email newsletter.