Analysts Expect Old Line Bancshares, Inc. (OLBK) to Announce $0.41 EPS
Wall Street analysts predict that Old Line Bancshares, Inc. (NASDAQ:OLBK) will post earnings of $0.41 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Old Line Bancshares’ earnings, with estimates ranging from $0.40 to $0.42. Old Line Bancshares posted earnings of $0.28 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 46.4%. The business is scheduled to announce its next quarterly earnings results on Wednesday, August 16th.
According to Zacks, analysts expect that Old Line Bancshares will report full year earnings of $1.61 per share for the current fiscal year, with EPS estimates ranging from $1.55 to $1.66. For the next fiscal year, analysts forecast that the firm will post earnings of $1.86 per share, with EPS estimates ranging from $1.70 to $2.02. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Old Line Bancshares.
Several research firms have recently weighed in on OLBK. Keefe, Bruyette & Woods lowered Old Line Bancshares from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $31.00 to $29.00 in a research note on Monday, July 17th. ValuEngine raised Old Line Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research lowered Old Line Bancshares from a “buy” rating to a “sell” rating in a research note on Thursday, July 20th. Finally, BidaskClub lowered Old Line Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $26.00.
In related news, Director Stephen J. Deadrick acquired 200 shares of Old Line Bancshares stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $262.44 per share, with a total value of $52,488.00. Following the purchase, the director now directly owns 26,469 shares in the company, valued at approximately $6,946,524.36. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John M. Suit II acquired 3,350 shares of Old Line Bancshares stock in a transaction dated Thursday, July 20th. The shares were bought at an average cost of $27.52 per share, with a total value of $92,192.00. Following the completion of the purchase, the director now owns 64,394 shares in the company, valued at $1,772,122.88. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 8,741 shares of company stock valued at $285,107. Corporate insiders own 25.07% of the company’s stock.
Several large investors have recently added to or reduced their stakes in OLBK. Acrospire Investment Management LLC raised its stake in Old Line Bancshares by 44,062.5% in the first quarter. Acrospire Investment Management LLC now owns 3,533 shares of the bank’s stock valued at $101,000 after buying an additional 3,525 shares in the last quarter. American International Group Inc. boosted its stake in shares of Old Line Bancshares by 7.1% in the first quarter. American International Group Inc. now owns 5,153 shares of the bank’s stock valued at $147,000 after buying an additional 342 shares during the period. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Old Line Bancshares during the first quarter valued at approximately $180,000. Ameriprise Financial Inc. acquired a new stake in shares of Old Line Bancshares during the second quarter valued at approximately $201,000. Finally, Nationwide Fund Advisors boosted its stake in shares of Old Line Bancshares by 40.6% in the first quarter. Nationwide Fund Advisors now owns 7,193 shares of the bank’s stock valued at $205,000 after buying an additional 2,077 shares during the period. 42.41% of the stock is owned by institutional investors and hedge funds.
Old Line Bancshares (NASDAQ:OLBK) traded down 0.15% during mid-day trading on Wednesday, reaching $26.75. The company’s stock had a trading volume of 12,743 shares. Old Line Bancshares has a 52 week low of $18.91 and a 52 week high of $29.90. The firm has a market capitalization of $333.06 million, a P/E ratio of 18.71 and a beta of 0.25. The firm’s 50 day moving average price is $27.60 and its 200 day moving average price is $27.90.
Old Line Bancshares Company Profile
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. The Bank markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients.
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