Old Line Bancshares, Inc. (OLBK) Expected to Announce Earnings of $0.41 Per Share
Wall Street brokerages expect that Old Line Bancshares, Inc. (NASDAQ:OLBK) will report earnings of $0.41 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Old Line Bancshares’ earnings, with the highest EPS estimate coming in at $0.42 and the lowest estimate coming in at $0.40. Old Line Bancshares reported earnings of $0.28 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 46.4%. The company is expected to report its next quarterly earnings results on Wednesday, August 16th.
According to Zacks, analysts expect that Old Line Bancshares will report full-year earnings of $1.61 per share for the current year, with EPS estimates ranging from $1.55 to $1.66. For the next financial year, analysts anticipate that the company will post earnings of $1.86 per share, with EPS estimates ranging from $1.70 to $2.02. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Old Line Bancshares.
Several brokerages have commented on OLBK. BidaskClub lowered shares of Old Line Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods lowered shares of Old Line Bancshares from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $31.00 to $29.00 in a research report on Monday, July 17th. ValuEngine raised shares of Old Line Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised shares of Old Line Bancshares from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Old Line Bancshares has a consensus rating of “Hold” and an average price target of $26.00.
Old Line Bancshares (NASDAQ OLBK) traded down 0.15% on Wednesday, reaching $26.75. 12,743 shares of the company’s stock traded hands. Old Line Bancshares has a 52-week low of $18.91 and a 52-week high of $29.90. The stock has a market cap of $333.06 million, a price-to-earnings ratio of 18.71 and a beta of 0.25. The company’s 50 day moving average is $27.60 and its 200-day moving average is $27.90.
In other Old Line Bancshares news, insider James W. Cornelsen purchased 1,813 shares of the stock in a transaction dated Wednesday, July 19th. The shares were bought at an average price of $27.51 per share, with a total value of $49,875.63. Following the completion of the transaction, the insider now directly owns 169,551 shares in the company, valued at approximately $4,664,348.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen J. Deadrick purchased 200 shares of the stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $262.44 per share, for a total transaction of $52,488.00. Following the transaction, the director now owns 26,469 shares of the company’s stock, valued at $6,946,524.36. The disclosure for this purchase can be found here. In the last three months, insiders bought 8,741 shares of company stock worth $285,107. Insiders own 25.07% of the company’s stock.
Several hedge funds have recently bought and sold shares of OLBK. Acrospire Investment Management LLC raised its stake in Old Line Bancshares by 44,062.5% in the first quarter. Acrospire Investment Management LLC now owns 3,533 shares of the bank’s stock valued at $101,000 after buying an additional 3,525 shares during the period. American International Group Inc. raised its stake in Old Line Bancshares by 7.1% in the first quarter. American International Group Inc. now owns 5,153 shares of the bank’s stock valued at $147,000 after buying an additional 342 shares during the period. Metropolitan Life Insurance Co. NY acquired a new stake in Old Line Bancshares during the first quarter valued at about $180,000. Ameriprise Financial Inc. acquired a new stake in Old Line Bancshares during the second quarter valued at about $201,000. Finally, Nationwide Fund Advisors raised its stake in Old Line Bancshares by 40.6% in the first quarter. Nationwide Fund Advisors now owns 7,193 shares of the bank’s stock valued at $205,000 after buying an additional 2,077 shares during the period. 42.41% of the stock is currently owned by institutional investors.
Old Line Bancshares 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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