Old Line Bancshares Inc. (OLBK) Upgraded by Keefe, Bruyette & Woods to “Outperform”
Separately, Zacks Investment Research raised shares of Old Line Bancshares from a hold rating to a strong-buy rating and set a $23.00 price objective for the company in a research note on Tuesday, October 25th.
Shares of Old Line Bancshares (NASDAQ:OLBK) opened at 21.34 on Tuesday. The firm has a 50-day moving average of $20.09 and a 200 day moving average of $19.08. The company has a market capitalization of $231.73 million, a P/E ratio of 21.53 and a beta of 0.34. Old Line Bancshares has a 1-year low of $16.75 and a 1-year high of $21.93.
Old Line Bancshares (NASDAQ:OLBK) last announced its earnings results on Thursday, October 20th. The company reported $0.32 EPS for the quarter, beating the Zacks’ 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%. On average, analysts anticipate that Old Line Bancshares will post $1.15 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.12%. Old Line Bancshares’s dividend payout ratio (DPR) is presently 24.24%.
In related news, Director Jeffrey A. Rivest bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was bought at an average cost of $19.72 per share, with a total value of $39,440.00. Following the completion of the purchase, the director now owns 26,957 shares of the company’s stock, valued at approximately $531,592.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas H. Graham bought 2,710 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were bought 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 disclosure for this purchase can be found here. 25.81% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its position in Old Line Bancshares by 60.0% in the third quarter. Wells Fargo & Company MN now owns 6,402 shares of the company’s stock valued at $126,000 after buying an additional 2,400 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Old Line Bancshares during the third quarter valued at $153,000. Advisor Group Inc. bought a new position in Old Line Bancshares during the second quarter valued at $155,000. Emerald Acquisition Ltd. bought a new position in Old Line Bancshares during the second quarter valued at $168,000. Finally, Nationwide Fund Advisors bought a new position in Old Line Bancshares during the second quarter valued at $218,000. 45.92% of the stock is owned by institutional investors.
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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