Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) Upgraded to “Hold” at Zacks Investment Research
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. “
Other research analysts have also recently issued research reports about the stock. Raymond James cut shares of Old Line Bancshares, Inc. (MD) from an outperform rating to a market perform rating in a report on Wednesday, July 24th. Sandler O’Neill raised shares of Old Line Bancshares, Inc. (MD) from a hold rating to a buy rating in a research report on Thursday, July 25th. Janney Montgomery Scott lowered shares of Old Line Bancshares, Inc. (MD) from a buy rating to a neutral rating in a research note on Wednesday, July 24th. BidaskClub lowered shares of Old Line Bancshares, Inc. (MD) from a sell rating to a strong sell rating in a research note on Wednesday, September 4th. Finally, Keefe, Bruyette & Woods upgraded Old Line Bancshares, Inc. (MD) from a market perform rating to an outperform rating and increased their target price for the stock from $28.00 to $33.00 in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $34.00.
Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $26.73 million for the quarter, compared to the consensus estimate of $27.45 million. Old Line Bancshares, Inc. (MD) had a return on equity of 9.95% and a net margin of 26.08%. Equities analysts anticipate that Old Line Bancshares, Inc. will post 2.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Thursday, September 12th. Old Line Bancshares, Inc. (MD)’s dividend payout ratio is presently 21.92%.
Hedge funds have recently made changes to their positions in the company. Teton Advisors Inc. boosted its stake in Old Line Bancshares, Inc. (MD) by 16.4% in the 2nd quarter. Teton Advisors Inc. now owns 42,479 shares of the bank’s stock valued at $1,130,000 after purchasing an additional 6,000 shares during the period. Banc Funds Co. LLC increased its stake in Old Line Bancshares, Inc. (MD) by 34.3% during the 1st quarter. Banc Funds Co. LLC now owns 288,263 shares of the bank’s stock worth $7,186,000 after acquiring an additional 73,577 shares during the period. ClariVest Asset Management LLC raised its holdings in Old Line Bancshares, Inc. (MD) by 5.9% in the 1st quarter. ClariVest Asset Management LLC now owns 25,100 shares of the bank’s stock valued at $626,000 after acquiring an additional 1,400 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Old Line Bancshares, Inc. (MD) by 10.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 459,172 shares of the bank’s stock valued at $12,085,000 after acquiring an additional 41,604 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of Old Line Bancshares, Inc. (MD) by 561.9% in the first quarter. BNP Paribas Arbitrage SA now owns 3,263 shares of the bank’s stock worth $81,000 after purchasing an additional 2,770 shares during the period. 51.21% of the stock is currently owned by institutional investors and hedge funds.
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.
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