Old Line Bancshares, Inc. (MD) (OLBK) Upgraded by BidaskClub to “Sell”

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BidaskClub upgraded shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday.

Several other equities analysts have also recently commented on the stock. Stephens set a $35.00 target price on shares of Old Line Bancshares, Inc. (MD) and gave the company a buy rating in a research note on Friday, October 19th. Raymond James lowered their target price on shares of Old Line Bancshares, Inc. (MD) from $37.00 to $35.00 and set an outperform rating on the stock in a research note on Friday, October 19th. Zacks Investment Research raised shares of Old Line Bancshares, Inc. (MD) from a sell rating to a hold rating in a research note on Thursday, September 13th. Finally, Sandler O’Neill cut shares of Old Line Bancshares, Inc. (MD) from a buy rating to a hold rating in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Old Line Bancshares, Inc. (MD) presently has an average rating of Hold and an average price target of $35.42.

Old Line Bancshares, Inc. (MD) stock opened at $29.87 on Tuesday. The stock has a market cap of $486.90 million, a price-to-earnings ratio of 19.15 and a beta of 0.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.97. Old Line Bancshares, Inc. has a 52 week low of $27.18 and a 52 week high of $35.72.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last released its earnings results on Wednesday, October 17th. The bank reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). The company had revenue of $27.69 million for the quarter, compared to analyst estimates of $27.97 million. Old Line Bancshares, Inc. (MD) had a net margin of 20.78% and a return on equity of 11.68%. As a group, research analysts forecast that Old Line Bancshares, Inc. will post 2.19 earnings per share for the current year.

In other Old Line Bancshares, Inc. (MD) news, Director Eric D. Hovde sold 5,796 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $34.83, for a total value of $201,874.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark A. Semanie bought 1,000 shares of the firm’s stock in a transaction on Thursday, October 25th. The stock was purchased at an average price of $27.75 per share, with a total value of $27,750.00. Following the completion of the acquisition, the chief operating officer now owns 15,688 shares of the company’s stock, valued at $435,342. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,446 shares of company stock valued at $41,714 and have sold 53,152 shares valued at $1,824,514. Company insiders own 10.61% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in OLBK. BlackRock Inc. boosted its holdings in shares of Old Line Bancshares, Inc. (MD) by 100.5% in the second quarter. BlackRock Inc. now owns 810,841 shares of the bank’s stock worth $28,306,000 after buying an additional 406,390 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Old Line Bancshares, Inc. (MD) by 56.6% during the second quarter. Renaissance Technologies LLC now owns 433,240 shares of the bank’s stock worth $15,124,000 after purchasing an additional 156,540 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of Old Line Bancshares, Inc. (MD) by 396.3% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 172,712 shares of the bank’s stock worth $6,029,000 after purchasing an additional 137,912 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Old Line Bancshares, Inc. (MD) by 36.7% during the second quarter. Dimensional Fund Advisors LP now owns 328,239 shares of the bank’s stock worth $11,459,000 after purchasing an additional 88,103 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Old Line Bancshares, Inc. (MD) by 215.5% during the second quarter. Millennium Management LLC now owns 121,373 shares of the bank’s stock worth $4,237,000 after purchasing an additional 82,897 shares during the period. Institutional investors own 47.80% of the company’s stock.

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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