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

Zacks Investment Research downgraded shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a hold rating to a sell rating in a report released on Friday morning, 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. “

OLBK has been the topic of a number of other reports. BidaskClub upgraded Old Line Bancshares, Inc. (MD) from a strong sell rating to a sell rating in a research report on Friday. Sandler O’Neill upgraded Old Line Bancshares, Inc. (MD) from a hold rating to a buy rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods upgraded Old Line Bancshares, Inc. (MD) from a market perform rating to an outperform rating and increased their price target for the stock from $28.00 to $33.00 in a research report on Thursday, July 25th. Janney Montgomery Scott lowered Old Line Bancshares, Inc. (MD) from a buy rating to a neutral rating in a research report on Wednesday, July 24th. Finally, ValuEngine upgraded Old Line Bancshares, Inc. (MD) from a sell rating to a hold rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $34.00.

NASDAQ OLBK opened at $29.13 on Friday. The firm has a market cap of $495.18 million, a PE ratio of 13.30 and a beta of 0.59. Old Line Bancshares, Inc. has a one year low of $24.12 and a one year high of $34.29. The stock’s 50 day simple moving average is $27.06 and its 200 day simple moving average is $26.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.95.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate 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%. As a group, equities analysts expect that Old Line Bancshares, Inc. will post 2.2 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.65%. Old Line Bancshares, Inc. (MD)’s dividend payout ratio (DPR) is presently 21.92%.

In related news, Director Eric D. Hovde sold 12,500 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $28.57, for a total transaction of $357,125.00. Following the sale, the director now directly owns 870 shares in the company, valued at approximately $24,855.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.36% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in OLBK. Banc Funds Co. LLC boosted its position in Old Line Bancshares, Inc. (MD) by 32.2% in the 2nd quarter. Banc Funds Co. LLC now owns 380,999 shares of the bank’s stock valued at $10,138,000 after buying an additional 92,736 shares during the last quarter. Mendon Capital Advisors Corp boosted its position in Old Line Bancshares, Inc. (MD) by 10.8% in the 2nd quarter. Mendon Capital Advisors Corp now owns 761,010 shares of the bank’s stock valued at $20,250,000 after buying an additional 74,139 shares during the last quarter. Jennison Associates LLC boosted its position in Old Line Bancshares, Inc. (MD) by 14.3% in the 1st quarter. Jennison Associates LLC now owns 501,440 shares of the bank’s stock valued at $12,501,000 after buying an additional 62,682 shares during the last quarter. MACRO Consulting Group bought a new position in Old Line Bancshares, Inc. (MD) in the 2nd quarter valued at $1,397,000. Finally, Victory Capital Management Inc. boosted its position in Old Line Bancshares, Inc. (MD) by 9,278.1% in the 1st quarter. Victory Capital Management Inc. now owns 52,611 shares of the bank’s stock valued at $1,312,000 after buying an additional 52,050 shares during the last quarter. Hedge funds and other institutional investors own 51.21% of the company’s stock.

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.

See Also: Equity Income

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

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