Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) announced a quarterly dividend on Wednesday, November 28th, NASDAQ reports. Shareholders of record on Friday, December 14th will be given a dividend of 0.10 per share by the bank on Friday, December 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, December 13th.
Old Line Bancshares, Inc. (MD) has increased its dividend payment by an average of 21.1% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Old Line Bancshares, Inc. (MD) has a dividend payout ratio of 18.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Old Line Bancshares, Inc. (MD) to earn $2.51 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 15.9%.
OLBK stock traded up $0.52 during midday trading on Friday, reaching $29.00. The company’s stock had a trading volume of 40,082 shares, compared to its average volume of 23,947. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. Old Line Bancshares, Inc. has a 1 year low of $27.18 and a 1 year high of $35.72. The firm has a market cap of $483.87 million, a price-to-earnings ratio of 14.17 and a beta of 0.37.
Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last released its earnings results on Wednesday, October 17th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Old Line Bancshares, Inc. (MD) had a return on equity of 10.63% and a net margin of 20.78%. The business had revenue of $27.69 million during the quarter, compared to analysts’ expectations of $27.97 million. Research analysts expect that Old Line Bancshares, Inc. will post 2.19 EPS for the current year.
A number of research firms have weighed in on OLBK. BidaskClub lowered Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research lowered Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a research note on Tuesday. Stephens set a $35.00 target price on Old Line Bancshares, Inc. (MD) and gave the stock a “buy” rating in a research note on Friday, October 19th. Finally, Raymond James dropped their price target 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. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.42.
In other news, Director Eric D. Hovde sold 4,096 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $30.32, for a total transaction of $124,190.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Mark A. Semanie purchased 1,000 shares of the company’s stock in a transaction dated Thursday, October 25th. The shares were purchased at an average cost of $27.75 per share, for a total transaction of $27,750.00. Following the transaction, the chief operating officer now directly owns 15,688 shares in the company, valued at approximately $435,342. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,830 shares of company stock worth $51,270 and have sold 47,083 shares worth $1,543,339. 10.61% of the stock is currently owned by corporate insiders.
About Old Line Bancshares, Inc. (MD)
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.
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