Zacks Investment Research Lowers Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) to Sell

Zacks Investment Research downgraded shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a hold rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.

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. “

A number of other equities analysts also recently issued reports on OLBK. Keefe, Bruyette & Woods raised Old Line Bancshares, Inc. (MD) from a market perform rating to an outperform rating and increased their price target for the stock from $28.00 to $33.00 in a research report on Thursday, July 25th. Sandler O’Neill raised Old Line Bancshares, Inc. (MD) from a hold rating to a buy rating in a research report on Thursday, July 25th. BidaskClub raised Old Line Bancshares, Inc. (MD) from a strong sell rating to a sell rating in a research report on Saturday, July 27th. Raymond James downgraded Old Line Bancshares, Inc. (MD) from an outperform rating to a market perform rating in a research report on Wednesday, July 24th. Finally, ValuEngine raised Old Line Bancshares, Inc. (MD) from a sell rating to a hold rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $34.00.

OLBK opened at $26.74 on Tuesday. Old Line Bancshares, Inc. has a 12-month low of $24.12 and a 12-month high of $34.87. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The business’s fifty day simple moving average is $26.80 and its 200-day simple moving average is $26.32. The company has a market capitalization of $450.48 million, a price-to-earnings ratio of 12.21 and a beta of 0.58.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Old Line Bancshares, Inc. (MD) had a return on equity of 9.95% and a net margin of 26.08%. The firm had revenue of $26.73 million for the quarter, compared to the consensus estimate of $27.45 million. On average, equities research analysts predict that Old Line Bancshares, Inc. will post 2.21 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in Old Line Bancshares, Inc. (MD) during the second quarter valued at about $34,000. Aperio Group LLC bought a new stake in Old Line Bancshares, Inc. (MD) during the second quarter valued at about $55,000. Legal & General Group Plc boosted its position in Old Line Bancshares, Inc. (MD) by 17.8% during the fourth quarter. Legal & General Group Plc now owns 2,758 shares of the bank’s stock valued at $73,000 after purchasing an additional 416 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Old Line Bancshares, Inc. (MD) by 561.9% during the first quarter. BNP Paribas Arbitrage SA now owns 3,263 shares of the bank’s stock valued at $81,000 after purchasing an additional 2,770 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Old Line Bancshares, Inc. (MD) in the first quarter valued at about $245,000. 50.58% of the stock is currently owned by institutional investors.

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.

See Also: How do buyers and sellers choose a strike price?

Get a free copy of the Zacks research report on Old Line Bancshares, Inc. (MD) (OLBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Old Line Bancshares Inc. (MD) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Line Bancshares Inc. (MD) and related companies with MarketBeat.com's FREE daily email newsletter.