Old Line Bancshares Inc. (NASDAQ:OLBK) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, The Fly reports.
Separately, Zacks Investment Research raised Old Line Bancshares from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Tuesday, October 25th.
Shares of Old Line Bancshares (NASDAQ:OLBK) opened at 21.25 on Tuesday. The firm’s 50-day moving average is $20.09 and its 200-day moving average is $19.08. The company has a market cap of $230.75 million, a price-to-earnings ratio of 21.44 and a beta of 0.34. Old Line Bancshares has a one year low of $16.75 and a one year high of $21.93.
Old Line Bancshares (NASDAQ:OLBK) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Old Line Bancshares had a return on equity of 8.34% and a net margin of 16.40%. Analysts expect that Old Line Bancshares will post $1.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Wednesday, December 14th. Old Line Bancshares’s dividend payout ratio is currently 24.24%.
In other news, Director Carla Hargrove Mcgill bought 2,500 shares of the company’s stock in a transaction dated Tuesday, November 8th. The stock was bought at an average price of $19.67 per share, with a total value of $49,175.00. Following the completion of the acquisition, the director now owns 8,073 shares of the company’s stock, valued at $158,795.91. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Rivest bought 3,000 shares of the company’s stock in a transaction dated Thursday, October 27th. The shares were purchased at an average cost of $19.78 per share, with a total value of $59,340.00. Following the acquisition, the director now directly owns 24,557 shares of the company’s stock, valued at approximately $485,737.46. The disclosure for this purchase can be found here. Insiders own 25.81% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in Old Line Bancshares by 60.0% in the third quarter. Wells Fargo & Company MN now owns 6,402 shares of the company’s stock worth $126,000 after buying an additional 2,400 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Old Line Bancshares during the third quarter worth $153,000. Advisor Group Inc. purchased a new stake in Old Line Bancshares during the second quarter worth $155,000. Emerald Acquisition Ltd. purchased a new stake in Old Line Bancshares during the second quarter worth $168,000. Finally, Nationwide Fund Advisors purchased a new stake in Old Line Bancshares during the second quarter worth $218,000. 45.92% of the stock is owned by institutional investors.
About Old Line Bancshares
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. It markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients.