Zacks Investment Research upgraded shares of Old Line Bancshares Inc. (NASDAQ:OLBK) from a sell rating to a hold rating in a research report sent to investors on Wednesday 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) opened at 19.52 on Wednesday. The company has a market capitalization of $211.58 million, a price-to-earnings ratio of 20.33 and a beta of 0.49. The firm’s 50-day moving average is $19.55 and its 200-day moving average is $18.68. Old Line Bancshares has a 12-month low of $16.34 and a 12-month high of $20.09.

Old Line Bancshares (NASDAQ:OLBK) last issued its earnings results on Wednesday, July 20th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. Old Line Bancshares had a return on equity of 8.24% and a net margin of 16.40%. On average, equities analysts predict that Old Line Bancshares will post $1.12 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, September 14th. Old Line Bancshares’s dividend payout ratio is currently 25.00%.

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

A number of large investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC increased its stake in shares of Old Line Bancshares by 4.7% in the second quarter. ClariVest Asset Management LLC now owns 15,700 shares of the company’s stock worth $283,000 after buying an additional 700 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Old Line Bancshares by 14.3% in the first quarter. Geode Capital Management LLC now owns 21,012 shares of the company’s stock worth $378,000 after buying an additional 2,633 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Old Line Bancshares by 35.2% in the first quarter. Royal Bank of Canada now owns 23,262 shares of the company’s stock worth $419,000 after buying an additional 6,060 shares in the last quarter. Advisor Group Inc. bought a new stake in shares of Old Line Bancshares during the second quarter worth $155,000. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Old Line Bancshares during the second quarter worth $168,000. 46.46% of the stock is currently owned by institutional investors and hedge funds.

Old Line Bancshares Company Profile

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.

5 Day Chart for NASDAQ:OLBK

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