Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) Receives $33.50 Consensus Target Price from Analysts

Shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) have been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $33.50.

OLBK has been the subject of several research analyst reports. Sandler O’Neill raised Old Line Bancshares, Inc. (MD) from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Janney Montgomery Scott downgraded Old Line Bancshares, Inc. (MD) from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 24th. ValuEngine raised Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods raised Old Line Bancshares, Inc. (MD) from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $33.00 in a research note on Thursday, July 25th. Finally, Raymond James downgraded Old Line Bancshares, Inc. (MD) from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th.

Shares of OLBK traded down $0.31 during mid-day trading on Friday, hitting $27.22. The company’s stock had a trading volume of 49,961 shares, compared to its average volume of 132,032. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day moving average of $26.41. The stock has a market capitalization of $464.10 million, a price-to-earnings ratio of 12.43 and a beta of 0.58. Old Line Bancshares, Inc. has a 1-year low of $24.12 and a 1-year high of $35.08.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $26.73 million during the quarter, compared to analyst estimates of $27.45 million. Old Line Bancshares, Inc. (MD) had a net margin of 26.08% and a return on equity of 10.08%. Sell-side analysts anticipate that Old Line Bancshares, Inc. will post 2.23 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLBK. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in Old Line Bancshares, Inc. (MD) by 40.7% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 357,917 shares of the bank’s stock valued at $8,923,000 after purchasing an additional 103,595 shares in the last quarter. Banc Funds Co. LLC increased its position in Old Line Bancshares, Inc. (MD) by 34.3% during the first quarter. Banc Funds Co. LLC now owns 288,263 shares of the bank’s stock worth $7,186,000 after buying an additional 73,577 shares in the last quarter. Jennison Associates LLC increased its position in Old Line Bancshares, Inc. (MD) by 14.3% during the first quarter. Jennison Associates LLC now owns 501,440 shares of the bank’s stock worth $12,501,000 after buying an additional 62,682 shares in the last quarter. Victory Capital Management Inc. increased its position in Old Line Bancshares, Inc. (MD) by 9,278.1% during the first quarter. Victory Capital Management Inc. now owns 52,611 shares of the bank’s stock worth $1,312,000 after buying an additional 52,050 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Old Line Bancshares, Inc. (MD) by 10.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 459,172 shares of the bank’s stock worth $12,085,000 after buying an additional 41,604 shares in the last quarter. 50.19% of the stock is owned by hedge funds and other institutional investors.

About Old Line Bancshares, Inc. (MD)

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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Analyst Recommendations for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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