Old Line Bancshares Inc. (OLBK) Rating Increased to Outperform at Keefe, Bruyette & Woods
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 report issued on Tuesday.
Separately, Zacks Investment Research raised shares of Old Line Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th.
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. Old Line Bancshares has a 52-week low of $16.75 and a 52-week high of $21.93. The company has a market capitalization of $230.75 million, a P/E ratio of 21.44 and a beta of 0.34.
Old Line Bancshares (NASDAQ:OLBK) last released its earnings results on Thursday, October 20th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Old Line Bancshares had a net margin of 16.40% and a return on equity of 8.34%. Equities research analysts anticipate that Old Line Bancshares will post $1.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, December 14th. Old Line Bancshares’s dividend payout ratio (DPR) is presently 24.24%.
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In other news, Director Carla Hargrove Mcgill bought 2,500 shares of the stock in a transaction dated Tuesday, November 8th. The shares were acquired at an average price of $19.67 per share, with a total value of $49,175.00. Following the acquisition, the director now owns 8,073 shares in the company, valued at $158,795.91. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas H. Graham bought 2,710 shares of the stock in a transaction dated Wednesday, September 14th. The stock was purchased at an average cost of $19.18 per share, for a total transaction of $51,977.80. Following the acquisition, the director now owns 26,439 shares in the company, valued at approximately $507,100.02. The disclosure for this purchase can be found here. 25.81% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Old Line Bancshares by 1.8% in the first quarter. Wellington Management Group LLP now owns 640,619 shares of the company’s stock valued at $11,551,000 after buying an additional 11,079 shares during the last quarter. ClariVest Asset Management LLC raised its stake in Old Line Bancshares by 4.7% in the second quarter. ClariVest Asset Management LLC now owns 15,700 shares of the company’s stock valued at $283,000 after buying an additional 700 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Old Line Bancshares during the second quarter valued at $286,000. California State Teachers Retirement System purchased a new stake in Old Line Bancshares during the second quarter valued at $316,000. Finally, RMB Capital Management LLC raised its stake in Old Line Bancshares by 618.6% in the second quarter. RMB Capital Management LLC now owns 299,966 shares of the company’s stock valued at $5,399,000 after buying an additional 258,223 shares during the last quarter. 45.92% of the stock is currently owned by institutional investors and hedge funds.
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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