Wall Street brokerages expect Old Line Bancshares, Inc. (NASDAQ:OLBK) to report $19.65 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Old Line Bancshares’ earnings. The lowest sales estimate is $19.09 million and the highest is $20.22 million. Old Line Bancshares reported sales of $15.48 million in the same quarter last year, which would suggest a positive year over year growth rate of 26.9%. The business is scheduled to report its next earnings results on Thursday, November 9th.

According to Zacks, analysts expect that Old Line Bancshares will report full-year sales of $19.65 million for the current year, with estimates ranging from $70.37 million to $72.50 million. For the next year, analysts forecast that the firm will post sales of $100.77 million per share, with estimates ranging from $100.60 million to $100.94 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Old Line Bancshares.

A number of brokerages have issued reports on OLBK. ValuEngine lowered shares of Old Line Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $31.00 price objective on shares of Old Line Bancshares in a report on Thursday, October 26th. Zacks Investment Research raised shares of Old Line Bancshares from a “strong sell” rating to a “hold” rating in a report on Thursday, September 14th. Finally, BidaskClub lowered shares of Old Line Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.00.

Old Line Bancshares (OLBK) traded down $0.45 during midday trading on Wednesday, reaching $29.40. 14,612 shares of the company’s stock were exchanged, compared to its average volume of 28,540. Old Line Bancshares has a 12 month low of $18.91 and a 12 month high of $30.44. The company has a market cap of $371.67, a PE ratio of 20.87 and a beta of 0.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.94.

In other Old Line Bancshares news, Director Stephen J. Deadrick bought 200 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $262.44 per share, with a total value of $52,488.00. Following the completion of the acquisition, the director now owns 26,469 shares in the company, valued at approximately $6,946,524.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John M. Suit II bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was acquired at an average cost of $30.25 per share, with a total value of $30,250.00. Following the completion of the acquisition, the director now owns 66,844 shares of the company’s stock, valued at approximately $2,022,031. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 3,409 shares of company stock valued at $142,347. Insiders own 25.07% of the company’s stock.

Several hedge funds have recently bought and sold shares of OLBK. American International Group Inc. grew its holdings in shares of Old Line Bancshares by 7.1% in the first quarter. American International Group Inc. now owns 5,153 shares of the bank’s stock valued at $147,000 after purchasing an additional 342 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in shares of Old Line Bancshares in the first quarter valued at $180,000. Ameriprise Financial Inc. purchased a new position in shares of Old Line Bancshares in the second quarter valued at $201,000. Advisor Group Inc. grew its holdings in shares of Old Line Bancshares by 89.0% in the third quarter. Advisor Group Inc. now owns 7,230 shares of the bank’s stock valued at $202,000 after purchasing an additional 3,405 shares in the last quarter. Finally, Nationwide Fund Advisors grew its holdings in shares of Old Line Bancshares by 40.6% in the first quarter. Nationwide Fund Advisors now owns 7,193 shares of the bank’s stock valued at $205,000 after purchasing an additional 2,077 shares in the last quarter. 41.54% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/11/06/old-line-bancshares-inc-olbk-expected-to-announce-quarterly-sales-of-19-65-million.html.

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.

Get a free copy of the Zacks research report on Old Line Bancshares (OLBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Old Line Bancshares (NASDAQ:OLBK)

Receive News & Stock Ratings for Old Line Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Line Bancshares Inc. and related stocks with our FREE daily email newsletter.