Zacks Investment Research Downgrades Old Line Bancshares, Inc. (MD) (OLBK) to Sell

Zacks Investment Research lowered shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a hold rating to a sell rating in a research report released on Wednesday.

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. “

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A number of other equities analysts have also weighed in on OLBK. ValuEngine lowered shares of Old Line Bancshares, Inc. (MD) from a buy rating to a hold rating in a report on Friday, December 1st. BidaskClub lowered shares of Old Line Bancshares, Inc. (MD) from a hold rating to a sell rating in a report on Thursday, January 11th. Sandler O’Neill reaffirmed a buy rating and issued a $34.50 target price on shares of Old Line Bancshares, Inc. (MD) in a research report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $35.00 target price on shares of Old Line Bancshares, Inc. (MD) in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $34.50.

Shares of NASDAQ OLBK opened at $33.00 on Wednesday. Old Line Bancshares, Inc. has a twelve month low of $26.01 and a twelve month high of $33.90. The company has a market capitalization of $414.71, a P/E ratio of 23.08 and a beta of 0.31. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.18.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Old Line Bancshares, Inc. (MD) had a return on equity of 8.52% and a net margin of 19.60%. The firm had revenue of $19.03 million during the quarter, compared to analysts’ expectations of $19.88 million. sell-side analysts expect that Old Line Bancshares, Inc. will post 2.22 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Thursday, March 15th. Old Line Bancshares, Inc. (MD)’s dividend payout ratio (DPR) is presently 20.51%.

In other Old Line Bancshares, Inc. (MD) news, Director James R. Sr Clifford, Sr. sold 1,500 shares of Old Line Bancshares, Inc. (MD) stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $31.94, for a total value of $47,910.00. Following the completion of the sale, the director now owns 13,598 shares of the company’s stock, valued at approximately $434,320.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carla Hargrove Mcgill bought 5,000 shares of the business’s stock in a transaction on Monday, March 5th. The stock was bought at an average cost of $32.57 per share, with a total value of $162,850.00. Following the transaction, the director now owns 22,123 shares in the company, valued at approximately $720,546.11. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 6,477 shares of company stock valued at $209,403. 25.07% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Old Line Bancshares, Inc. (MD) by 1.6% in the 4th quarter. BlackRock Inc. now owns 406,852 shares of the bank’s stock worth $11,977,000 after purchasing an additional 6,563 shares during the period. Basswood Capital Management L.L.C. grew its position in shares of Old Line Bancshares, Inc. (MD) by 114.8% during the 4th quarter. Basswood Capital Management L.L.C. now owns 382,188 shares of the bank’s stock valued at $11,252,000 after acquiring an additional 204,229 shares during the period. Renaissance Technologies LLC grew its position in shares of Old Line Bancshares, Inc. (MD) by 28.2% during the 4th quarter. Renaissance Technologies LLC now owns 246,100 shares of the bank’s stock valued at $7,245,000 after acquiring an additional 54,200 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Old Line Bancshares, Inc. (MD) by 11.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 178,141 shares of the bank’s stock valued at $4,988,000 after acquiring an additional 18,993 shares during the period. Finally, State Street Corp grew its position in shares of Old Line Bancshares, Inc. (MD) by 28.2% during the 2nd quarter. State Street Corp now owns 165,433 shares of the bank’s stock valued at $4,662,000 after acquiring an additional 36,434 shares during the period. 47.35% of the stock is owned by institutional investors and hedge funds.

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Old Line Bancshares, Inc. (MD) Company Profile

Old Line Bancshares, Inc is the holding company of Old Line Bank (The Bank). The Bank is a chartered trust company engaged in commercial banking business, making various types of loans, investments and accepting deposits. The Bank markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients.

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