Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) Expected to Announce Earnings of $0.54 Per Share

Brokerages expect Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) to announce $0.54 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Old Line Bancshares, Inc. (MD)’s earnings. Old Line Bancshares, Inc. (MD) reported earnings per share of $0.57 in the same quarter last year, which suggests a negative year-over-year growth rate of 5.3%. The business is scheduled to announce its next quarterly earnings results on Wednesday, October 23rd.

On average, analysts expect that Old Line Bancshares, Inc. (MD) will report full-year earnings of $2.20 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $2.29. For the next year, analysts anticipate that the company will report earnings of $2.49 per share, with EPS estimates ranging from $2.30 to $2.72. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Old Line Bancshares, Inc. (MD).

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Old Line Bancshares, Inc. (MD) had a return on equity of 9.95% and a net margin of 26.08%. The company had revenue of $26.73 million for the quarter, compared to the consensus estimate of $27.45 million.

OLBK has been the topic of a number of recent analyst reports. Raymond James downgraded shares of Old Line Bancshares, Inc. (MD) from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Sandler O’Neill upgraded shares of Old Line Bancshares, Inc. (MD) from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods upgraded shares of Old Line Bancshares, Inc. (MD) from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $33.00 in a research report on Thursday, July 25th. BidaskClub upgraded shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Zacks Investment Research downgraded shares of Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $33.50.

In related news, Director Eric D. Hovde sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $28.57, for a total value of $357,125.00. Following the sale, the director now directly owns 870 shares in the company, valued at approximately $24,855.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.36% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OLBK. Financial Consulate Inc. acquired a new position in shares of Old Line Bancshares, Inc. (MD) in the 3rd quarter valued at $639,000. Strategic Wealth Management Group LLC acquired a new position in shares of Old Line Bancshares, Inc. (MD) in the 3rd quarter valued at $379,000. Maltese Capital Management LLC raised its stake in shares of Old Line Bancshares, Inc. (MD) by 5.4% in the 2nd quarter. Maltese Capital Management LLC now owns 280,000 shares of the bank’s stock valued at $7,451,000 after buying an additional 14,300 shares in the last quarter. Summit Global Investments acquired a new position in shares of Old Line Bancshares, Inc. (MD) in the 2nd quarter valued at $639,000. Finally, Victory Capital Management Inc. raised its stake in shares of Old Line Bancshares, Inc. (MD) by 25.1% in the 2nd quarter. Victory Capital Management Inc. now owns 65,801 shares of the bank’s stock valued at $1,751,000 after buying an additional 13,190 shares in the last quarter. Institutional investors and hedge funds own 51.29% of the company’s stock.

Shares of OLBK stock traded up $0.25 during midday trading on Tuesday, reaching $30.39. 73,005 shares of the company were exchanged, compared to its average volume of 63,231. Old Line Bancshares, Inc. has a 12 month low of $24.12 and a 12 month high of $31.25. The company has a market cap of $512.38 million, a P/E ratio of 13.88 and a beta of 0.61. The company’s 50 day moving average price is $28.71 and its two-hundred day moving average price is $26.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.96.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. Old Line Bancshares, Inc. (MD)’s payout ratio is currently 21.92%.

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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Earnings History and Estimates for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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