Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) Raised to “Sell” at BidaskClub

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BidaskClub upgraded shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a strong sell rating to a sell rating in a research note issued to investors on Friday, BidAskClub reports.

Several other research firms have also commented on OLBK. Raymond James lowered shares of Old Line Bancshares, Inc. (MD) from an outperform rating to a market perform rating in a research note on Wednesday, July 24th. Zacks Investment Research upgraded shares of Old Line Bancshares, Inc. (MD) from a sell rating to a hold rating in a research note on Saturday, September 7th. Janney Montgomery Scott lowered shares of Old Line Bancshares, Inc. (MD) from a buy rating to a neutral rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded shares of Old Line Bancshares, Inc. (MD) from a market perform rating to an outperform rating and increased their price objective for the company from $28.00 to $33.00 in a research note on Thursday, July 25th. Finally, ValuEngine upgraded shares of Old Line Bancshares, Inc. (MD) from a sell rating to a hold rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $34.00.

OLBK opened at $29.13 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market capitalization of $495.18 million, a PE ratio of 13.30 and a beta of 0.59. Old Line Bancshares, Inc. has a fifty-two week low of $24.12 and a fifty-two week high of $34.29. The company’s 50-day moving average is $27.06 and its 200 day moving average is $26.27.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). The firm had revenue of $26.73 million during the quarter, compared to analysts’ expectations of $27.45 million. Old Line Bancshares, Inc. (MD) had a net margin of 26.08% and a return on equity of 9.95%. As a group, analysts expect that Old Line Bancshares, Inc. will post 2.2 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.12 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.48 annualized dividend and a yield of 1.65%. Old Line Bancshares, Inc. (MD)’s dividend payout ratio (DPR) is 21.92%.

In other Old Line Bancshares, Inc. (MD) news, Director Eric D. Hovde sold 12,500 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $28.57, for a total value of $357,125.00. Following the completion of the sale, the director now owns 870 shares in the company, valued at approximately $24,855.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 12.36% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in OLBK. Banc Funds Co. LLC grew its position in shares of Old Line Bancshares, Inc. (MD) by 32.2% during the 2nd quarter. Banc Funds Co. LLC now owns 380,999 shares of the bank’s stock valued at $10,138,000 after acquiring an additional 92,736 shares during the period. Mendon Capital Advisors Corp grew its position in shares of Old Line Bancshares, Inc. (MD) by 10.8% during the 2nd quarter. Mendon Capital Advisors Corp now owns 761,010 shares of the bank’s stock valued at $20,250,000 after acquiring an additional 74,139 shares during the period. Jennison Associates LLC grew its position in shares of Old Line Bancshares, Inc. (MD) by 14.3% during the 1st quarter. Jennison Associates LLC now owns 501,440 shares of the bank’s stock valued at $12,501,000 after acquiring an additional 62,682 shares during the period. MACRO Consulting Group bought a new position in shares of Old Line Bancshares, Inc. (MD) during the 2nd quarter valued at approximately $1,397,000. Finally, Victory Capital Management Inc. grew its position in shares of Old Line Bancshares, Inc. (MD) by 9,278.1% during the 1st quarter. Victory Capital Management Inc. now owns 52,611 shares of the bank’s stock valued at $1,312,000 after acquiring an additional 52,050 shares during the period. 51.21% of the stock is owned by hedge funds and other institutional investors.

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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