$28.38 Million in Sales Expected for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) This Quarter

Analysts expect Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) to report $28.38 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Old Line Bancshares, Inc. (MD)’s earnings. The lowest sales estimate is $27.57 million and the highest is $29.19 million. Old Line Bancshares, Inc. (MD) posted sales of $27.69 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.5%. The business is expected to report its next earnings results on Wednesday, October 16th.

According to Zacks, analysts expect that Old Line Bancshares, Inc. (MD) will report full year sales of $111.39 million for the current year, with estimates ranging from $108.27 million to $114.50 million. For the next financial year, analysts anticipate that the firm will report sales of $121.51 million, with estimates ranging from $116.51 million to $126.50 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Old Line Bancshares, Inc. (MD).

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Old Line Bancshares, Inc. (MD) had a return on equity of 9.95% and a net margin of 26.08%. The business had revenue of $26.73 million for the quarter, compared to analyst estimates of $27.45 million.

A number of analysts have recently issued reports on OLBK shares. BidaskClub upgraded Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. Zacks Investment Research cut Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Janney Montgomery Scott cut Old Line Bancshares, Inc. (MD) from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 24th. 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. Finally, ValuEngine upgraded Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.50.

In other Old Line Bancshares, Inc. (MD) news, Director Eric D. Hovde sold 12,500 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $28.57, for a total value of $357,125.00. Following the sale, the director now directly owns 870 shares in the company, valued at $24,855.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.36% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its position in Old Line Bancshares, Inc. (MD) by 0.6% in the second quarter. Wells Fargo & Company MN now owns 96,498 shares of the bank’s stock valued at $2,567,000 after acquiring an additional 602 shares during the period. Charles Schwab Investment Management Inc. grew its position in Old Line Bancshares, Inc. (MD) by 3.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 36,688 shares of the bank’s stock valued at $977,000 after acquiring an additional 1,230 shares during the period. Bank of Montreal Can bought a new stake in Old Line Bancshares, Inc. (MD) in the second quarter valued at $34,000. Aperio Group LLC bought a new stake in Old Line Bancshares, Inc. (MD) in the second quarter valued at $55,000. Finally, Swiss National Bank grew its position in Old Line Bancshares, Inc. (MD) by 9.1% in the second quarter. Swiss National Bank now owns 25,300 shares of the bank’s stock valued at $673,000 after acquiring an additional 2,100 shares during the period. Hedge funds and other institutional investors own 51.21% of the company’s stock.

Shares of OLBK stock traded up $0.15 during trading hours on Thursday, reaching $29.76. 48,692 shares of the company’s stock were exchanged, compared to its average volume of 76,617. The stock has a market capitalization of $503.35 million, a P/E ratio of 13.59 and a beta of 0.61. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.10. Old Line Bancshares, Inc. has a fifty-two week low of $24.12 and a fifty-two week high of $31.25. The business has a fifty day moving average price of $28.43 and a 200-day moving average price of $26.61.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Thursday, September 12th. Old Line Bancshares, Inc. (MD)’s dividend payout ratio is presently 21.92%.

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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Earnings History and Estimates for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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