Old Line Bancshares, Inc. (MD) (OLBK) Expected to Post Quarterly Sales of $27.63 Million

Equities research analysts forecast that Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) will announce sales of $27.63 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Old Line Bancshares, Inc. (MD)’s earnings, with the highest sales estimate coming in at $28.00 million and the lowest estimate coming in at $27.26 million. Old Line Bancshares, Inc. (MD) posted sales of $19.48 million in the same quarter last year, which would suggest a positive year over year growth rate of 41.8%. The company is expected to announce its next earnings report on Tuesday, April 16th.

On average, analysts expect that Old Line Bancshares, Inc. (MD) will report full-year sales of $116.51 million for the current fiscal year, with estimates ranging from $114.50 million to $118.52 million. For the next year, analysts expect that the business will report sales of $129.31 million, with estimates ranging from $126.50 million to $132.12 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Old Line Bancshares, Inc. (MD).

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last announced its quarterly earnings data on Wednesday, January 23rd. The bank reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. Old Line Bancshares, Inc. (MD) had a net margin of 22.08% and a return on equity of 11.31%. The business had revenue of $28.26 million for the quarter, compared to analyst estimates of $28.45 million.

OLBK has been the topic of several research analyst reports. BidaskClub lowered shares of Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Stephens reiterated a “buy” rating and set a $34.00 price target on shares of Old Line Bancshares, Inc. (MD) in a research note on Wednesday, December 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $36.00.

Shares of OLBK traded down $0.43 during midday trading on Friday, reaching $26.54. The stock had a trading volume of 40,127 shares, compared to its average volume of 44,131. Old Line Bancshares, Inc. has a 1-year low of $24.51 and a 1-year high of $35.72. The firm has a market capitalization of $490.67 million, a price-to-earnings ratio of 12.12 and a beta of 0.61. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a dividend of $0.12 per share. This is an increase from Old Line Bancshares, Inc. (MD)’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, March 14th. Old Line Bancshares, Inc. (MD)’s dividend payout ratio (DPR) is presently 18.26%.

In other news, Director Thomas H. Graham bought 2,000 shares of the stock in a transaction dated Thursday, February 21st. The shares were acquired at an average price of $27.43 per share, with a total value of $54,860.00. Following the completion of the acquisition, the director now directly owns 49,395 shares in the company, valued at $1,354,904.85. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James F. Dent sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $28.23, for a total transaction of $28,230.00. Following the sale, the director now directly owns 60,492 shares in the company, valued at approximately $1,707,689.16. The disclosure for this sale can be found here. In the last ninety days, insiders bought 4,199 shares of company stock worth $115,834. Insiders own 10.61% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in OLBK. Jennison Associates LLC boosted its holdings in Old Line Bancshares, Inc. (MD) by 3,279.0% during the third quarter. Jennison Associates LLC now owns 434,273 shares of the bank’s stock worth $13,740,000 after buying an additional 421,421 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Old Line Bancshares, Inc. (MD) by 27.2% during the third quarter. Dimensional Fund Advisors LP now owns 417,568 shares of the bank’s stock worth $13,212,000 after buying an additional 89,329 shares in the last quarter. Mendon Capital Advisors Corp boosted its holdings in Old Line Bancshares, Inc. (MD) by 14.2% during the fourth quarter. Mendon Capital Advisors Corp now owns 637,973 shares of the bank’s stock worth $16,791,000 after buying an additional 79,399 shares in the last quarter. Northern Trust Corp boosted its holdings in Old Line Bancshares, Inc. (MD) by 78.0% during the second quarter. Northern Trust Corp now owns 168,648 shares of the bank’s stock worth $5,888,000 after buying an additional 73,905 shares in the last quarter. Finally, EJF Capital LLC purchased a new stake in Old Line Bancshares, Inc. (MD) during the fourth quarter worth about $1,673,000. 50.48% of the stock is currently 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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Earnings History and Estimates for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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