Old Line Bancshares, Inc. (MD) (OLBK) Upgraded by BidaskClub to “Hold”

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday.

Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Sandler O’Neill lowered Old Line Bancshares, Inc. (MD) from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Stephens set a $35.00 target price on Old Line Bancshares, Inc. (MD) and gave the company a “buy” rating in a research report on Friday, October 19th. Finally, Raymond James decreased their target price on Old Line Bancshares, Inc. (MD) from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Old Line Bancshares, Inc. (MD) currently has a consensus rating of “Hold” and an average target price of $35.42.

Old Line Bancshares, Inc. (MD) stock traded up $1.03 during mid-day trading on Tuesday, hitting $30.76. The company had a trading volume of 44,214 shares, compared to its average volume of 55,830. Old Line Bancshares, Inc. has a 12-month low of $27.18 and a 12-month high of $35.72. The firm has a market cap of $513.26 million, a PE ratio of 19.72 and a beta of 0.40. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last announced its earnings results on Wednesday, October 17th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Old Line Bancshares, Inc. (MD) had a net margin of 20.78% and a return on equity of 10.63%. The business had revenue of $27.69 million for the quarter, compared to analysts’ expectations of $27.97 million. On average, equities research analysts forecast that Old Line Bancshares, Inc. will post 2.19 EPS for the current year.

In related news, Director Eric D. Hovde sold 12,839 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $34.38, for a total value of $441,404.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mark A. Semanie acquired 1,000 shares of Old Line Bancshares, Inc. (MD) stock in a transaction that occurred on Thursday, October 25th. The stock was purchased at an average cost of $27.75 per share, with a total value of $27,750.00. Following the completion of the purchase, the chief operating officer now owns 15,688 shares in the company, valued at approximately $435,342. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 1,446 shares of company stock worth $41,714 and have sold 47,244 shares worth $1,587,870. Company insiders own 10.61% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY raised its stake in Old Line Bancshares, Inc. (MD) by 72.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 5,334 shares of the bank’s stock valued at $186,000 after purchasing an additional 2,237 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in Old Line Bancshares, Inc. (MD) in the 2nd quarter valued at $202,000. SG Americas Securities LLC acquired a new position in Old Line Bancshares, Inc. (MD) in the 3rd quarter valued at $201,000. MetLife Investment Advisors LLC raised its stake in Old Line Bancshares, Inc. (MD) by 73.8% in the 2nd quarter. MetLife Investment Advisors LLC now owns 7,597 shares of the bank’s stock valued at $265,000 after purchasing an additional 3,227 shares during the last quarter. Finally, Founders Financial Securities LLC acquired a new position in Old Line Bancshares, Inc. (MD) in the 3rd quarter valued at $287,000. 48.34% of the stock is owned by hedge funds and other institutional investors.

Old Line Bancshares, Inc. (MD) Company Profile

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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Analyst Recommendations for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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