Zacks: Old Line Bancshares, Inc. (MD) (OLBK) Given Consensus Recommendation of “Buy” by Brokerages

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) has been assigned a consensus broker rating score of 1.75 (Buy) from the four brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. Old Line Bancshares, Inc. (MD)’s rating score has declined by 9.4% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Analysts have set a 12-month consensus price target of $32.67 for the company and are expecting that the company will post $0.45 EPS for the current quarter, according to Zacks. Zacks has also given Old Line Bancshares, Inc. (MD) an industry rank of 22 out of 265 based on the ratings given to related companies.

Several research firms have weighed in on OLBK. Zacks Investment Research upgraded Old Line Bancshares, Inc. (MD) from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 14th. ValuEngine cut Old Line Bancshares, Inc. (MD) from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $31.00 target price on shares of Old Line Bancshares, Inc. (MD) in a research note on Thursday, October 26th.

Shares of Old Line Bancshares, Inc. (OLBK) traded up $0.17 during mid-day trading on Friday, hitting $29.79. The company had a trading volume of 14,918 shares, compared to its average volume of 34,761. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $373.54, a PE ratio of 23.09 and a beta of 0.27. Old Line Bancshares, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $30.94.

The firm also recently announced a dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, December 7th. Old Line Bancshares, Inc. (MD)’s payout ratio is presently 24.81%.

In other news, EVP Joseph E. Burnett sold 3,475 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $30.00, for a total transaction of $104,250.00. Following the completion of the transaction, the executive vice president now directly owns 51,180 shares in the company, valued at $1,535,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John M. Suit II purchased 1,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were bought at an average price of $30.25 per share, with a total value of $30,250.00. Following the completion of the acquisition, the director now directly owns 66,844 shares of the company’s stock, valued at approximately $2,022,031. The disclosure for this purchase can be found here. Insiders have bought 11,709 shares of company stock valued at $133,738 over the last quarter. Company insiders own 25.07% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Old Line Bancshares, Inc. (MD) by 1.5% in the second quarter. Vanguard Group Inc. now owns 323,213 shares of the bank’s stock valued at $9,108,000 after purchasing an additional 4,836 shares during the period. Dimensional Fund Advisors LP increased its holdings in Old Line Bancshares, Inc. (MD) by 11.9% in the third quarter. Dimensional Fund Advisors LP now owns 178,141 shares of the bank’s stock valued at $4,988,000 after purchasing an additional 18,993 shares during the period. State Street Corp increased its holdings in Old Line Bancshares, Inc. (MD) by 28.2% in the second quarter. State Street Corp now owns 165,433 shares of the bank’s stock valued at $4,662,000 after purchasing an additional 36,434 shares during the period. Castine Capital Management LLC acquired a new stake in Old Line Bancshares, Inc. (MD) in the third quarter valued at $4,194,000. Finally, Northern Trust Corp increased its holdings in Old Line Bancshares, Inc. (MD) by 4.2% in the second quarter. Northern Trust Corp now owns 94,335 shares of the bank’s stock valued at $2,659,000 after purchasing an additional 3,778 shares during the period. Institutional investors and hedge funds own 44.25% of the company’s stock.

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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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