Old Line Bancshares, Inc. (MD) (OLBK) Receives Average Rating of “Hold” from Brokerages

Shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) have been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the company, Marketbeat Ratings reports. One research 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. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $36.00.

Several analysts recently weighed in on the company. Zacks Investment Research raised Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. BidaskClub raised Old Line Bancshares, Inc. (MD) from a “hold” rating to a “buy” rating in a report on Tuesday, July 3rd. Sandler O’Neill cut Old Line Bancshares, Inc. (MD) from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Stephens set a $35.00 price objective on Old Line Bancshares, Inc. (MD) and gave the company a “buy” rating in a report on Friday, October 19th. Finally, Raymond James dropped their price objective on Old Line Bancshares, Inc. (MD) from $37.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, October 19th.

In other news, COO Mark A. Semanie acquired 1,000 shares of Old Line Bancshares, Inc. (MD) stock in a transaction that occurred on Thursday, October 25th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $435,342. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric D. Hovde sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $34.51, for a total value of $86,275.00. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,446 shares of company stock worth $41,714 and have sold 58,152 shares worth $1,997,064. Insiders own 10.61% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Barclays PLC grew its position in shares of Old Line Bancshares, Inc. (MD) by 116.9% in the 1st quarter. Barclays PLC now owns 3,230 shares of the bank’s stock valued at $106,000 after buying an additional 1,741 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Old Line Bancshares, Inc. (MD) by 72.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 5,334 shares of the bank’s stock valued at $186,000 after buying an additional 2,237 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Old Line Bancshares, Inc. (MD) in the 2nd quarter valued at about $202,000. MetLife Investment Advisors LLC grew its position in shares of Old Line Bancshares, Inc. (MD) by 73.8% in the 2nd quarter. MetLife Investment Advisors LLC now owns 7,597 shares of the bank’s stock valued at $265,000 after buying an additional 3,227 shares during the last quarter. Finally, Founders Financial Securities LLC bought a new stake in shares of Old Line Bancshares, Inc. (MD) in the 3rd quarter valued at about $287,000. Institutional investors and hedge funds own 47.80% of the company’s stock.

NASDAQ:OLBK opened at $29.14 on Thursday. The company has a market cap of $486.90 million, a P/E ratio of 18.68 and a beta of 0.30. The company has a quick ratio of 0.96, 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.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). The firm had revenue of $27.69 million for the quarter, compared to analyst estimates of $27.97 million. Old Line Bancshares, Inc. (MD) had a return on equity of 11.68% and a net margin of 20.78%. As a group, equities research analysts forecast that Old Line Bancshares, Inc. will post 2.19 earnings per share for the current year.

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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