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

Zacks Investment Research upgraded shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a sell rating to a hold rating in a report released on Wednesday 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. “

OLBK has been the subject of several other reports. BidaskClub downgraded shares of Zions Bancorporation NA from a sell rating to a strong sell rating in a report on Friday, March 22nd. ValuEngine downgraded shares of Zions Bancorporation NA from a hold rating to a sell rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Old Line Bancshares, Inc. (MD) currently has an average rating of Hold and a consensus price target of $34.50.

Shares of NASDAQ OLBK opened at $26.41 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95. Old Line Bancshares, Inc. has a 52 week low of $24.12 and a 52 week high of $35.50. The company has a 50-day moving average of $25.54. The firm has a market capitalization of $450.34 million, a PE ratio of 12.00 and a beta of 0.61.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.04). Old Line Bancshares, Inc. (MD) had a net margin of 22.16% and a return on equity of 10.18%. The company had revenue of $26.07 million during the quarter, compared to analyst estimates of $27.17 million. Research analysts forecast that Old Line Bancshares, Inc. will post 2.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.48 annualized dividend and a yield of 1.82%. Old Line Bancshares, Inc. (MD)’s dividend payout ratio (DPR) is currently 21.92%.

A number of large investors have recently bought and sold shares of OLBK. Legal & General Group Plc increased its holdings in Old Line Bancshares, Inc. (MD) by 17.8% during the 4th quarter. Legal & General Group Plc now owns 2,758 shares of the bank’s stock valued at $73,000 after acquiring an additional 416 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Old Line Bancshares, Inc. (MD) by 561.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,263 shares of the bank’s stock valued at $81,000 after acquiring an additional 2,770 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Old Line Bancshares, Inc. (MD) by 366.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,334 shares of the bank’s stock worth $140,000 after buying an additional 4,190 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of Old Line Bancshares, Inc. (MD) during the fourth quarter worth about $158,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Old Line Bancshares, Inc. (MD) by 12.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,508 shares of the bank’s stock worth $171,000 after buying an additional 717 shares in the last quarter. Hedge funds and other institutional investors own 50.35% of the company’s stock.

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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