Old Line Bancshares, Inc. (MD) (OLBK) Expected to Announce Quarterly Sales of $27.97 Million

Brokerages forecast that Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) will announce $27.97 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Old Line Bancshares, Inc. (MD)’s earnings. The highest sales estimate is $28.08 million and the lowest is $27.86 million. The firm is expected to announce its next earnings report on Tuesday, October 23rd.

According to Zacks, analysts expect that Old Line Bancshares, Inc. (MD) will report full year sales of $102.79 million for the current financial year, with estimates ranging from $102.48 million to $103.10 million. For the next financial year, analysts forecast that the business will post sales of $119.16 million per share, with estimates ranging from $117.13 million to $121.20 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Old Line Bancshares, Inc. (MD).

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its quarterly earnings results on Tuesday, July 24th. The bank reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. The company had revenue of $26.50 million for the quarter, compared to the consensus estimate of $26.90 million. Old Line Bancshares, Inc. (MD) had a return on equity of 10.86% and a net margin of 17.09%.

OLBK has been the topic of a number of analyst reports. BidaskClub downgraded Old Line Bancshares, Inc. (MD) from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 28th. Sandler O’Neill downgraded Old Line Bancshares, Inc. (MD) from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research raised Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Hovde Group initiated coverage on Old Line Bancshares, Inc. (MD) in a research note on Thursday, May 3rd. They issued an “outperform” rating and a $39.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $35.63.

In related news, Director Joseph Thomas sold 2,300 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $34.47, for a total transaction of $79,281.00. Following the sale, the director now owns 75,578 shares of the company’s stock, valued at approximately $2,605,173.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen J. Deadrick acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 14th. The shares were acquired at an average cost of $34.23 per share, for a total transaction of $34,230.00. Following the purchase, the director now directly owns 29,093 shares in the company, valued at approximately $995,853.39. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 5,840 shares of company stock worth $203,511 and have sold 74,856 shares worth $2,592,235. Company insiders own 10.61% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in Old Line Bancshares, Inc. (MD) by 116.9% during the 1st quarter. Barclays PLC now owns 3,230 shares of the bank’s stock worth $106,000 after buying an additional 1,741 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of Old Line Bancshares, Inc. (MD) in the 4th quarter valued at about $129,000. PNC Financial Services Group Inc. acquired a new stake in shares of Old Line Bancshares, Inc. (MD) in the 2nd quarter valued at about $202,000. Mackay Shields LLC acquired a new stake in shares of Old Line Bancshares, Inc. (MD) in the 1st quarter valued at about $234,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Old Line Bancshares, Inc. (MD) in the 2nd quarter valued at about $344,000. 37.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of Old Line Bancshares, Inc. (MD) traded up $0.24, reaching $34.91, during trading hours on Tuesday, Marketbeat.com reports. The company had a trading volume of 131,604 shares, compared to its average volume of 64,088. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. The company has a market cap of $588.49 million, a P/E ratio of 24.24 and a beta of 0.30. Old Line Bancshares, Inc. has a 1-year low of $26.01 and a 1-year high of $35.72.

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.

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

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