Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) announced its quarterly earnings results on Wednesday. The bank reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01), Fidelity Earnings reports. Old Line Bancshares, Inc. (MD) had a return on equity of 9.23% and a net margin of 17.09%. The company had revenue of $27.69 million for the quarter, compared to analyst estimates of $27.97 million.
Shares of NASDAQ:OLBK traded down $0.41 during midday trading on Thursday, hitting $29.26. The stock had a trading volume of 915 shares, compared to its average volume of 57,568. The company has a market cap of $537.53 million, a price-to-earnings ratio of 18.76 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 $28.22 and a 1 year high of $35.72.
The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Thursday, September 13th. Old Line Bancshares, Inc. (MD)’s payout ratio is 25.64%.
An institutional investor recently raised its position in Old Line Bancshares, Inc. (MD) stock. Bank of New York Mellon Corp grew its position in shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) by 94.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,440 shares of the bank’s stock after buying an additional 43,366 shares during the period. Bank of New York Mellon Corp owned approximately 0.53% of Old Line Bancshares, Inc. (MD) worth $3,123,000 at the end of the most recent quarter. Institutional investors own 47.81% of the company’s stock.
OLBK has been the topic of several research reports. BidaskClub raised shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. Zacks Investment Research raised shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Finally, Sandler O’Neill downgraded shares of Old Line Bancshares, Inc. (MD) from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Old Line Bancshares, Inc. (MD) presently has a consensus rating of “Hold” and an average target price of $35.63.
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.
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