Equities analysts expect that Old Line Bancshares, Inc. (NASDAQ:OLBK) will post $19.65 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Old Line Bancshares’ earnings, with the lowest sales estimate coming in at $19.09 million and the highest estimate coming in at $20.22 million. Old Line Bancshares posted sales of $15.48 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.9%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 23rd.
According to Zacks, analysts expect that Old Line Bancshares will report full-year sales of $19.65 million for the current year, with estimates ranging from $70.37 million to $72.50 million. For the next year, analysts anticipate that the firm will post sales of $100.77 million per share, with estimates ranging from $100.60 million to $100.94 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Old Line Bancshares.
Several analysts have weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $31.00 price objective on shares of Old Line Bancshares in a research note on Thursday, October 26th. ValuEngine cut shares of Old Line Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. BidaskClub cut shares of Old Line Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research raised shares of Old Line Bancshares from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Old Line Bancshares currently has a consensus rating of “Hold” and a consensus price target of $31.00.
In other Old Line Bancshares news, Director John M. Suit II acquired 1,000 shares of Old Line Bancshares stock in a transaction on Thursday, November 2nd. The shares were purchased at an average cost of $30.25 per share, with a total value of $30,250.00. Following the completion of the purchase, the director now owns 66,844 shares in the company, valued at $2,022,031. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Joseph E. Burnett bought 9,800 shares of the business’s stock in a transaction on Monday, November 13th. The stock was purchased at an average price of $7.75 per share, for a total transaction of $75,950.00. Following the completion of the acquisition, the executive vice president now owns 63,794 shares of the company’s stock, valued at approximately $494,403.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 11,709 shares of company stock worth $133,738. Insiders own 25.07% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Old Line Bancshares by 1.5% in the second quarter. Vanguard Group Inc. now owns 323,213 shares of the bank’s stock worth $9,108,000 after purchasing an additional 4,836 shares during the period. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Old Line Bancshares by 133.0% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 203,594 shares of the bank’s stock worth $5,737,000 after acquiring an additional 116,206 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Old Line Bancshares by 11.9% during the third quarter. Dimensional Fund Advisors LP now owns 178,141 shares of the bank’s stock worth $4,988,000 after acquiring an additional 18,993 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Old Line Bancshares by 13.1% during the first quarter. Renaissance Technologies LLC now owns 175,700 shares of the bank’s stock worth $5,004,000 after acquiring an additional 20,400 shares during the period. Finally, State Street Corp raised its holdings in shares of Old Line Bancshares by 28.2% during the second quarter. State Street Corp now owns 165,433 shares of the bank’s stock worth $4,662,000 after acquiring an additional 36,434 shares during the period. Institutional investors own 42.36% of the company’s stock.
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Old Line Bancshares Company Profile
Old Line Bancshares, Inc is the holding company of Old Line Bank (The Bank). The Bank is a chartered trust company engaged in commercial banking business, making various types of loans, investments and accepting deposits. The Bank markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients.
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