Old Line Bancshares, Inc. (MD) (OLBK) Lifted to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

According to Zacks, “Old Line Bancshares is the parent company of Old Line Bank, a Maryland chartered commercial bank headquartered in Waldorf, Maryland. Old Line Bank’s primary market area is the suburban Maryland (Washington, D.C. suburbs) counties of Prince George’s, Charles and northern St. Mary’s. It also targets customers throughout the greater Washington, D.C. metropolitan area. “

OLBK has been the subject of a number of other reports. BidaskClub cut shares of Old Line Bancshares, Inc. (MD) from a sell rating to a strong sell rating in a research report on Wednesday, September 26th. Raymond James lowered their price target on shares of Old Line Bancshares, Inc. (MD) from $37.00 to $35.00 and set an outperform rating for the company in a research report on Friday, October 19th. Stephens set a $35.00 price target on shares of Old Line Bancshares, Inc. (MD) and gave the company a buy rating in a research report on Friday, October 19th. Finally, Sandler O’Neill cut shares of Old Line Bancshares, Inc. (MD) from a buy rating to a hold rating in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $35.42.

NASDAQ:OLBK opened at $29.62 on Friday. Old Line Bancshares, Inc. has a 12 month low of $27.18 and a 12 month high of $35.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.96. The stock has a market capitalization of $504.06 million, a PE ratio of 18.99 and a beta of 0.40.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last issued 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). Old Line Bancshares, Inc. (MD) had a net margin of 20.78% and a return on equity of 11.68%. The business had revenue of $27.69 million for the quarter, compared to analysts’ expectations of $27.97 million. As a group, research analysts forecast that Old Line Bancshares, Inc. will post 2.19 earnings per share for the current year.

In related news, Director Eric D. Hovde sold 2,500 shares of Old Line Bancshares, Inc. (MD) stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $34.51, for a total transaction of $86,275.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric D. Hovde sold 936 shares of Old Line Bancshares, Inc. (MD) stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $30.26, for a total transaction of $28,323.36. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 1,446 shares of company stock valued at $41,714 and have sold 55,969 shares valued at $1,909,888. Company insiders own 10.61% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in Old Line Bancshares, Inc. (MD) by 49.1% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 257,582 shares of the bank’s stock worth $8,150,000 after buying an additional 84,870 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Old Line Bancshares, Inc. (MD) by 33.4% in the third quarter. Russell Investments Group Ltd. now owns 23,963 shares of the bank’s stock worth $759,000 after buying an additional 5,997 shares during the last quarter. First Trust Advisors LP raised its holdings in Old Line Bancshares, Inc. (MD) by 28.8% in the third quarter. First Trust Advisors LP now owns 47,026 shares of the bank’s stock worth $1,488,000 after buying an additional 10,528 shares during the last quarter. Founders Financial Securities LLC purchased a new position in Old Line Bancshares, Inc. (MD) in the third quarter worth about $287,000. Finally, Northern Trust Corp raised its holdings in Old Line Bancshares, Inc. (MD) by 78.0% in the second quarter. Northern Trust Corp now owns 168,648 shares of the bank’s stock worth $5,888,000 after buying an additional 73,905 shares during the last quarter. 47.88% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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