Old Line Bancshares, Inc. (MD) (OLBK) Receives Consensus Recommendation of “Buy” from Brokerages

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) has earned a consensus broker rating score of 1.75 (Buy) from the four analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating on the company. Old Line Bancshares, Inc. (MD)’s rating score has declined by 9.4% in the last three months as a result of various analysts’ ratings changes.

Analysts have set a 1 year consensus price objective of $34.00 for the company and are anticipating that the company will post $0.49 EPS for the current quarter, according to Zacks. Zacks has also assigned Old Line Bancshares, Inc. (MD) an industry rank of 23 out of 265 based on the ratings given to related companies.

A number of brokerages have recently issued reports on OLBK. BidaskClub raised shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Sandler O’Neill restated a “buy” rating and set a $34.50 target price on shares of Old Line Bancshares, Inc. (MD) in a research note on Thursday, January 25th. Zacks Investment Research upgraded shares of Old Line Bancshares, Inc. (MD) from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Saturday, January 13th. 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. Finally, ValuEngine cut shares of Old Line Bancshares, Inc. (MD) from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.

In other Old Line Bancshares, Inc. (MD) news, Director James F. Dent sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $31.65, for a total value of $31,650.00. Following the sale, the director now owns 61,992 shares in the company, valued at approximately $1,962,046.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders acquired 1,327 shares of company stock worth $40,795. Corporate insiders own 25.07% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. bought a new stake in shares of Old Line Bancshares, Inc. (MD) in the 2nd quarter worth about $201,000. Advisor Group Inc. increased its holdings in shares of Old Line Bancshares, Inc. (MD) by 89.0% in the 3rd quarter. Advisor Group Inc. now owns 7,230 shares of the bank’s stock worth $202,000 after buying an additional 3,405 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Old Line Bancshares, Inc. (MD) by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,950 shares of the bank’s stock worth $224,000 after buying an additional 516 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Old Line Bancshares, Inc. (MD) in the 2nd quarter worth about $255,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Old Line Bancshares, Inc. (MD) by 106.6% in the 2nd quarter. New York State Common Retirement Fund now owns 9,300 shares of the bank’s stock worth $262,000 after buying an additional 4,799 shares during the last quarter. Institutional investors and hedge funds own 44.67% of the company’s stock.

Shares of Old Line Bancshares, Inc. (OLBK) opened at $31.30 on Tuesday. Old Line Bancshares, Inc. has a 1 year low of $26.01 and a 1 year high of $31.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.94.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Old Line Bancshares, Inc. (MD) had a net margin of 19.60% and a return on equity of 8.94%. The business had revenue of $19.03 million for the quarter, compared to the consensus estimate of $19.88 million. sell-side analysts forecast that Old Line Bancshares, Inc. will post 2.24 earnings per share for the current fiscal year.

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About Old Line Bancshares, Inc. (MD)

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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