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

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

A number of other research firms also recently commented on OLBK. BidaskClub downgraded shares of Zions Bancorporation NA from a sell rating to a strong sell rating in a research report on Friday, March 22nd. ValuEngine downgraded shares of Zions Bancorporation NA from a hold rating to a sell rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $34.50.

Shares of NASDAQ:OLBK opened at $26.41 on Wednesday. Old Line Bancshares, Inc. has a 52 week low of $24.12 and a 52 week high of $35.50. The firm has a 50 day moving average price of $25.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $450.34 million, a P/E 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 Zacks’ 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 firm had revenue of $26.07 million during the quarter, compared to analysts’ expectations of $27.17 million. As a group, research analysts expect that Old Line Bancshares, Inc. will post 2.23 earnings per share for the current fiscal year.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in shares of Old Line Bancshares, Inc. (MD) in the 1st quarter valued at $245,000. Banc Funds Co. LLC boosted its stake in Old Line Bancshares, Inc. (MD) by 34.3% during the 1st quarter. Banc Funds Co. LLC now owns 288,263 shares of the bank’s stock worth $7,186,000 after purchasing an additional 73,577 shares during the period. ClariVest Asset Management LLC boosted its stake in Old Line Bancshares, Inc. (MD) by 5.9% during the 1st quarter. ClariVest Asset Management LLC now owns 25,100 shares of the bank’s stock worth $626,000 after purchasing an additional 1,400 shares during the period. Jennison Associates LLC boosted its stake in 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 worth $12,501,000 after purchasing an additional 62,682 shares during the period. Finally, Penn Capital Management Co. Inc. boosted its stake in Old Line Bancshares, Inc. (MD) by 26.1% during the 1st quarter. Penn Capital Management Co. Inc. now owns 114,405 shares of the bank’s stock worth $2,852,000 after purchasing an additional 23,703 shares during the period. 50.35% of the stock is currently 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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