Old Line Bancshares, Inc. (OLBK) Expected to Post Quarterly Sales of $16.64 Million
Wall Street brokerages forecast that Old Line Bancshares, Inc. (NASDAQ:OLBK) will post $16.64 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Old Line Bancshares’ earnings. The lowest sales estimate is $16.53 million and the highest is $16.75 million. Old Line Bancshares posted sales of $15.54 million during the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The firm is scheduled to issue its next earnings results on Wednesday, July 19th.
According to Zacks, analysts expect that Old Line Bancshares will report full-year sales of $16.64 million for the current year, with estimates ranging from $73.60 million to $74.34 million. For the next financial year, analysts anticipate that the firm will report sales of $91.55 million per share, with estimates ranging from $90.40 million to $92.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Old Line Bancshares.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Old Line Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. ValuEngine upgraded shares of Old Line Bancshares from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.
Shares of Old Line Bancshares (OLBK) traded up 1.70% during mid-day trading on Friday, reaching $29.23. 16,681 shares of the company were exchanged. Old Line Bancshares has a 12 month low of $17.75 and a 12 month high of $29.90. The firm has a market capitalization of $320.07 million, a PE ratio of 21.48 and a beta of 0.26. The company’s 50 day moving average price is $28.08 and its 200 day moving average price is $27.45.
The company also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.11%. Old Line Bancshares’s dividend payout ratio is currently 23.70%.
Several large investors have recently added to or reduced their stakes in the stock. LSV Asset Management increased its position in shares of Old Line Bancshares by 16.8% in the first quarter. LSV Asset Management now owns 25,411 shares of the bank’s stock worth $723,000 after buying an additional 3,658 shares during the last quarter. Monarch Partners Asset Management LLC increased its position in shares of Old Line Bancshares by 12.8% in the first quarter. Monarch Partners Asset Management LLC now owns 20,884 shares of the bank’s stock worth $595,000 after buying an additional 2,370 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Old Line Bancshares by 72.4% in the first quarter. Wells Fargo & Company MN now owns 45,053 shares of the bank’s stock worth $1,283,000 after buying an additional 18,923 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Old Line Bancshares by 40.6% in the first quarter. Nationwide Fund Advisors now owns 7,193 shares of the bank’s stock worth $205,000 after buying an additional 2,077 shares during the last quarter. Finally, Sheets Smith Wealth Management bought a new position in shares of Old Line Bancshares during the first quarter worth approximately $285,000. Institutional investors and hedge funds own 46.78% of the company’s stock.
About Old Line Bancshares
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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