Old Line Bancshares, Inc. (MD) (OLBK) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a hold rating to a sell rating in a research note released on Friday morning.

A number of other brokerages have also recently commented on OLBK. Raymond James dropped their price target on Old Line Bancshares, Inc. (MD) from $37.00 to $35.00 and set an outperform rating on the stock in a research report on Friday, October 19th. Zacks Investment Research raised Old Line Bancshares, Inc. (MD) from a sell rating to a hold rating in a research report on Wednesday, August 29th. Finally, Stephens set a $35.00 price target on Old Line Bancshares, Inc. (MD) and gave the stock a buy rating in a research report on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $35.42.

Shares of OLBK traded up $0.52 during mid-day trading on Friday, reaching $29.00. The company had a trading volume of 40,082 shares, compared to its average volume of 23,947. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. Old Line Bancshares, Inc. has a 52 week low of $27.18 and a 52 week high of $35.72. The stock has a market cap of $483.87 million, a P/E ratio of 18.59 and a beta of 0.37.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last issued its quarterly earnings results on Wednesday, October 17th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Old Line Bancshares, Inc. (MD) had a return on equity of 10.63% and a net margin of 20.78%. The company had revenue of $27.69 million during the quarter, compared to the consensus estimate of $27.97 million. On average, equities analysts anticipate that Old Line Bancshares, Inc. will post 2.19 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.40 annualized dividend and a yield of 1.38%. Old Line Bancshares, Inc. (MD)’s dividend payout ratio (DPR) is presently 25.64%.

In related news, Director Eric D. Hovde sold 12,839 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $34.38, for a total value of $441,404.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric D. Hovde sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $34.25, for a total value of $342,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 1,830 shares of company stock worth $51,270 and sold 47,083 shares worth $1,543,339. Corporate insiders own 10.61% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in OLBK. Metropolitan Life Insurance Co. NY lifted its position in Old Line Bancshares, Inc. (MD) by 72.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 5,334 shares of the bank’s stock valued at $186,000 after acquiring an additional 2,237 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Old Line Bancshares, Inc. (MD) during the 3rd quarter valued at $201,000. PNC Financial Services Group Inc. purchased a new stake in Old Line Bancshares, Inc. (MD) during the 2nd quarter valued at $202,000. MetLife Investment Advisors LLC raised its stake in Old Line Bancshares, Inc. (MD) by 73.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 7,597 shares of the bank’s stock valued at $265,000 after buying an additional 3,227 shares during the last quarter. Finally, Founders Financial Securities LLC purchased a new stake in Old Line Bancshares, Inc. (MD) during the 3rd quarter valued at $287,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

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

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