$28.38 Million in Sales Expected for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) This Quarter

Analysts expect Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) to report sales of $28.38 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Old Line Bancshares, Inc. (MD)’s earnings. The lowest sales estimate is $27.57 million and the highest is $29.19 million. Old Line Bancshares, Inc. (MD) reported sales of $27.69 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The business is expected to announce its next earnings results on Wednesday, October 16th.

According to Zacks, analysts expect that Old Line Bancshares, Inc. (MD) will report full year sales of $111.39 million for the current year, with estimates ranging from $108.27 million to $114.50 million. For the next fiscal year, analysts forecast that the firm will post sales of $121.51 million, with estimates ranging from $116.51 million to $126.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Old Line Bancshares, Inc. (MD).

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). The company had revenue of $26.73 million during the quarter, compared to analysts’ expectations of $27.45 million. Old Line Bancshares, Inc. (MD) had a net margin of 26.08% and a return on equity of 9.95%.



A number of equities analysts have recently issued reports on OLBK shares. ValuEngine upgraded shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Raymond James downgraded shares of Old Line Bancshares, Inc. (MD) from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded shares of Old Line Bancshares, Inc. (MD) from a “market perform” rating to an “outperform” rating and increased their price target for the company from $28.00 to $33.00 in a report on Thursday, July 25th. BidaskClub upgraded shares of Old Line Bancshares, Inc. (MD) from a “strong sell” rating to a “sell” rating in a report on Saturday, July 27th. Finally, Janney Montgomery Scott downgraded shares of Old Line Bancshares, Inc. (MD) from a “buy” rating to a “neutral” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Old Line Bancshares, Inc. (MD) currently has a consensus rating of “Hold” and an average price target of $34.00.

A number of large investors have recently bought and sold shares of the business. Legal & General Group Plc increased its holdings in Old Line Bancshares, Inc. (MD) by 17.8% during the 4th quarter. Legal & General Group Plc now owns 2,758 shares of the bank’s stock valued at $73,000 after acquiring an additional 416 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Old Line Bancshares, Inc. (MD) by 0.6% during the 2nd quarter. Wells Fargo & Company MN now owns 96,498 shares of the bank’s stock valued at $2,567,000 after acquiring an additional 602 shares in the last quarter. Northern Trust Corp increased its holdings in Old Line Bancshares, Inc. (MD) by 0.6% during the 4th quarter. Northern Trust Corp now owns 187,550 shares of the bank’s stock valued at $4,936,000 after acquiring an additional 1,203 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Old Line Bancshares, Inc. (MD) by 3.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,688 shares of the bank’s stock valued at $977,000 after acquiring an additional 1,230 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in Old Line Bancshares, Inc. (MD) during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Shares of OLBK traded up $0.40 during trading hours on Friday, reaching $26.40. The company had a trading volume of 212,074 shares, compared to its average volume of 57,794. The firm has a 50 day simple moving average of $26.79 and a 200-day simple moving average of $26.32. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $457.45 million, a price-to-earnings ratio of 12.05 and a beta of 0.58. Old Line Bancshares, Inc. has a 12-month low of $24.12 and a 12-month high of $34.87.

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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