Old Line Bancshares, Inc. (MD) (OLBK) to Issue $0.12 Quarterly Dividend

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) declared a quarterly dividend on Wednesday, May 29th, NASDAQ reports. Investors of record on Friday, June 14th will be given a dividend of 0.12 per share by the bank on Friday, June 28th. This represents a $0.48 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, June 13th.

Old Line Bancshares, Inc. (MD) has increased its dividend by an average of 21.9% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Old Line Bancshares, Inc. (MD) has a dividend payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Old Line Bancshares, Inc. (MD) to earn $2.53 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 19.0%.

NASDAQ OLBK traded up $0.29 during mid-day trading on Friday, hitting $25.07. The company’s stock had a trading volume of 27,995 shares, compared to its average volume of 37,464. Old Line Bancshares, Inc. has a 52-week low of $24.12 and a 52-week high of $35.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $427.44 million, a price-to-earnings ratio of 11.45 and a beta of 0.56.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.04). Old Line Bancshares, Inc. (MD) had a net margin of 22.16% and a return on equity of 10.18%. The business had revenue of $26.07 million during the quarter, compared to analysts’ expectations of $27.17 million. Sell-side analysts forecast that Old Line Bancshares, Inc. will post 2.23 EPS for the current fiscal year.

Several research analysts recently commented on OLBK shares. Zacks Investment Research lowered shares of Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. BidaskClub upgraded shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd. Finally, ValuEngine lowered shares of Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $34.50.

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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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Dividend History for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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