Equities analysts expect Old Line Bancshares, Inc. (NASDAQ:OLBK) to post $0.41 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Old Line Bancshares’ earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.39. Old Line Bancshares reported earnings of $0.32 per share during the same quarter last year, which suggests a positive year over year growth rate of 28.1%. The business is expected to report its next quarterly earnings report on Thursday, October 19th.
On average, analysts expect that Old Line Bancshares will report full-year earnings of $1.55 per share for the current year, with EPS estimates ranging from $1.54 to $1.56. For the next fiscal year, analysts forecast that the firm will post earnings of $1.94 per share, with EPS estimates ranging from $1.80 to $2.01. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Old Line Bancshares.
Several research analysts recently issued reports on OLBK shares. Keefe, Bruyette & Woods cut Old Line Bancshares from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $31.00 to $29.00 in a research note on Monday, July 17th. Zacks Investment Research cut Old Line Bancshares from a “buy” rating to a “sell” rating in a research note on Thursday, July 20th. Finally, BidaskClub cut Old Line Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $29.00.
In other news, Director John M. Suit II acquired 3,350 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were bought at an average price of $27.52 per share, with a total value of $92,192.00. Following the completion of the purchase, the director now directly owns 64,394 shares in the company, valued at $1,772,122.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James W. Cornelsen bought 1,813 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were bought at an average cost of $27.51 per share, for a total transaction of $49,875.63. Following the transaction, the insider now directly owns 169,551 shares in the company, valued at approximately $4,664,348.01. The disclosure for this purchase can be found here. In the last three months, insiders purchased 8,241 shares of company stock worth $271,562. 25.07% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in OLBK. Teachers Advisors LLC boosted its position in Old Line Bancshares by 8.6% during the 4th quarter. Teachers Advisors LLC now owns 14,743 shares of the bank’s stock valued at $354,000 after acquiring an additional 1,163 shares in the last quarter. Nationwide Fund Advisors boosted its position in Old Line Bancshares by 40.6% during the 1st quarter. Nationwide Fund Advisors now owns 7,193 shares of the bank’s stock valued at $205,000 after acquiring an additional 2,077 shares in the last quarter. Wells Fargo & Company MN boosted its position in Old Line Bancshares by 72.4% during the 1st quarter. Wells Fargo & Company MN now owns 45,053 shares of the bank’s stock valued at $1,283,000 after acquiring an additional 18,923 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Old Line Bancshares by 18.7% during the 1st quarter. Bank of New York Mellon Corp now owns 30,880 shares of the bank’s stock valued at $879,000 after acquiring an additional 4,854 shares in the last quarter. Finally, Oxford Asset Management bought a new stake in Old Line Bancshares during the 1st quarter valued at $303,000. 41.63% of the stock is currently owned by institutional investors and hedge funds.
Old Line Bancshares (NASDAQ:OLBK) traded down 0.07% on Wednesday, hitting $28.97. The stock had a trading volume of 4,908 shares. The firm has a market capitalization of $360.71 million, a price-to-earnings ratio of 20.26 and a beta of 0.26. Old Line Bancshares has a 1-year low of $18.91 and a 1-year high of $29.90. The stock’s 50-day moving average is $27.78 and its 200 day moving average is $27.76.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.32 annualized dividend and a yield of 1.10%. Old Line Bancshares’s dividend payout ratio (DPR) is currently 22.38%.
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. The Bank markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients.
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