Old Line Bancshares, Inc. (MD) (OLBK) Expected to Announce Quarterly Sales of $28.45 Million

Analysts expect that Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) will announce sales of $28.45 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Old Line Bancshares, Inc. (MD)’s earnings, with estimates ranging from $28.16 million to $28.75 million. Old Line Bancshares, Inc. (MD) posted sales of $19.03 million in the same quarter last year, which suggests a positive year-over-year growth rate of 49.5%. The company is scheduled to issue its next earnings results on Tuesday, January 22nd.

On average, analysts expect that Old Line Bancshares, Inc. (MD) will report full-year sales of $102.66 million for the current fiscal year, with estimates ranging from $101.82 million to $103.50 million. For the next financial year, analysts forecast that the company will report sales of $120.36 million, with estimates ranging from $118.52 million to $122.20 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Old Line Bancshares, Inc. (MD).

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its quarterly earnings results on Wednesday, October 17th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $27.69 million during the quarter, compared to analyst estimates of $27.97 million. Old Line Bancshares, Inc. (MD) had a net margin of 20.78% and a return on equity of 10.63%.

OLBK has been the topic of a number of analyst reports. Stephens set a $35.00 price target on Old Line Bancshares, Inc. (MD) and gave the company a “buy” rating in a research report on Friday, October 19th. Zacks Investment Research raised Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. BidaskClub raised Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Finally, Raymond James cut their target price on Old Line Bancshares, Inc. (MD) from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $35.42.

OLBK stock opened at $30.59 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $506.30 million, a price-to-earnings ratio of 19.61 and a beta of 0.40. Old Line Bancshares, Inc. has a 1 year low of $27.18 and a 1 year high of $35.72.

In other news, Director Eric D. Hovde sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $34.00, for a total transaction of $340,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eric D. Hovde sold 936 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $30.26, for a total value of $28,323.36. The disclosure for this sale can be found here. Insiders have sold a total of 52,987 shares of company stock worth $1,759,148 in the last three months. Corporate insiders own 10.61% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. grew its stake in Old Line Bancshares, Inc. (MD) by 4.1% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 42,313 shares of the bank’s stock worth $1,477,000 after buying an additional 1,667 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in Old Line Bancshares, Inc. (MD) by 72.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 5,334 shares of the bank’s stock worth $186,000 after buying an additional 2,237 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in Old Line Bancshares, Inc. (MD) by 9.4% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 26,800 shares of the bank’s stock worth $935,000 after buying an additional 2,300 shares during the last quarter. MetLife Investment Advisors LLC grew its stake in Old Line Bancshares, Inc. (MD) by 73.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 7,597 shares of the bank’s stock worth $265,000 after buying an additional 3,227 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Old Line Bancshares, Inc. (MD) by 18.7% during the 2nd quarter. California Public Employees Retirement System now owns 32,537 shares of the bank’s stock worth $1,136,000 after buying an additional 5,129 shares during the last quarter. Hedge funds and other institutional investors own 51.16% of the company’s stock.

Old Line Bancshares, Inc. (MD) Company Profile

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.

Read More: How to Calculate Compound Annual Growth Rate (CAGR)

Get a free copy of the Zacks research report on Old Line Bancshares, Inc. (MD) (OLBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

Receive News & Ratings for Old Line Bancshares Inc. (MD) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Line Bancshares Inc. (MD) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply