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

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. “

Other analysts have also recently issued research reports about the company. Stephens set a $35.00 price objective on Old Line Bancshares, Inc. (MD) and gave the company a buy rating in a research report on Friday, October 19th. Sandler O’Neill cut Old Line Bancshares, Inc. (MD) from a buy rating to a hold rating in a research report on Thursday, July 26th. BidaskClub raised Old Line Bancshares, Inc. (MD) from a sell rating to a hold rating in a report on Friday, August 10th. Finally, Raymond James cut their price target on Old Line Bancshares, Inc. (MD) from $37.00 to $35.00 and set an outperform rating for the company in a report on Friday, October 19th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Old Line Bancshares, Inc. (MD) has an average rating of Hold and a consensus price target of $35.42.

Old Line Bancshares, Inc. (MD) stock traded up $0.02 during mid-day trading on Tuesday, reaching $29.37. 670 shares of the stock traded hands, compared to its average volume of 29,382. The stock has a market cap of $497.80 million, a PE ratio of 18.83 and a beta of 0.40. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. Old Line Bancshares, Inc. has a 12-month low of $27.18 and a 12-month high of $35.72.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its quarterly earnings data on Wednesday, October 17th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The firm had revenue of $27.69 million for the quarter, compared to analysts’ expectations of $27.97 million. Old Line Bancshares, Inc. (MD) had a net margin of 20.78% and a return on equity of 10.63%. As a group, sell-side analysts predict that Old Line Bancshares, Inc. will post 2.19 EPS for the current fiscal year.

In other news, Director Eric D. Hovde sold 12,839 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $34.38, for a total value of $441,404.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric D. Hovde sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $34.25, for a total value of $342,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,297 shares of company stock valued at $1,619,636. Corporate insiders own 10.61% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY lifted its position in shares of Old Line Bancshares, Inc. (MD) by 72.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,334 shares of the bank’s stock worth $186,000 after buying an additional 2,237 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Old Line Bancshares, Inc. (MD) in the third quarter worth about $201,000. PNC Financial Services Group Inc. purchased a new stake in shares of Old Line Bancshares, Inc. (MD) in the second quarter worth about $202,000. MetLife Investment Advisors LLC lifted its position in shares of Old Line Bancshares, Inc. (MD) by 73.8% in the second quarter. MetLife Investment Advisors LLC now owns 7,597 shares of the bank’s stock worth $265,000 after buying an additional 3,227 shares in the last quarter. Finally, Founders Financial Securities LLC purchased a new stake in shares of Old Line Bancshares, Inc. (MD) in the third quarter worth about $287,000. 51.16% of the stock is owned by hedge funds and other institutional investors.

Old Line Bancshares, Inc. (MD) Company Profile

Old Line Bancshares, Inc operates as the bank holding company for Old Line Bank that provides banking products and services to small and medium size businesses, entrepreneurs, professionals, consumers, and high net worth clients. The company accepts a range of deposit products, including demand, NOW, money market, and savings accounts, as well as certificates of deposit.

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