Zacks Investment Research upgraded shares of Old Line Bancshares Inc. (NASDAQ:OLBK) from a sell rating to a hold rating in a research note published on Tuesday morning.

According to Zacks, “Old Line Bancshares is the parent company of Old Line Bank, a Maryland chartered commercial bank headquartered in Waldorf, Maryland. Old Line Bank’s primary market area is the suburban Maryland (Washington, D.C. suburbs) counties of Prince George’s, Charles and northern St. Mary’s. It also targets customers throughout the greater Washington, D.C. metropolitan area. “

Shares of Old Line Bancshares (NASDAQ:OLBK) remained flat at $19.41 during trading on Tuesday. The stock’s 50 day moving average is $19.53 and its 200-day moving average is $18.63. Old Line Bancshares has a 12 month low of $16.34 and a 12 month high of $20.09. The firm has a market capitalization of $210.39 million, a price-to-earnings ratio of 20.22 and a beta of 0.49.

Old Line Bancshares (NASDAQ:OLBK) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Old Line Bancshares had a net margin of 16.40% and a return on equity of 8.24%. Equities research analysts forecast that Old Line Bancshares will post $1.12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.06 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.24%. Old Line Bancshares’s dividend payout ratio is currently 25.00%.

In other news, Director Thomas H. Graham acquired 2,710 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were purchased at an average price of $19.18 per share, for a total transaction of $51,977.80. Following the acquisition, the director now directly owns 26,439 shares of the company’s stock, valued at approximately $507,100.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 25.81% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of OLBK. RMB Capital Management LLC raised its position in shares of Old Line Bancshares by 618.6% in the second quarter. RMB Capital Management LLC now owns 299,966 shares of the company’s stock worth $5,399,000 after buying an additional 258,223 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Old Line Bancshares by 736.0% in the second quarter. BlackRock Fund Advisors now owns 221,136 shares of the company’s stock worth $3,980,000 after buying an additional 194,683 shares in the last quarter. Mendon Capital Advisors Corp raised its position in shares of Old Line Bancshares by 376.0% in the second quarter. Mendon Capital Advisors Corp now owns 229,211 shares of the company’s stock worth $4,126,000 after buying an additional 181,060 shares in the last quarter. State Street Corp purchased a new position in shares of Old Line Bancshares during the second quarter worth approximately $1,188,000. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Old Line Bancshares by 1,359.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 62,284 shares of the company’s stock worth $1,121,000 after buying an additional 58,017 shares in the last quarter. Hedge funds and other institutional investors own 46.46% of the company’s stock.

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.

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