Old Line Bancshares, Inc. (MD) Declares Quarterly Dividend of $0.10 (OLBK)

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) announced a quarterly dividend on Wednesday, November 28th, NASDAQ reports. Shareholders of record on Friday, December 14th will be given a dividend of 0.10 per share by the bank on Friday, December 28th. This represents a $0.40 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, December 13th.

Old Line Bancshares, Inc. (MD) has increased its dividend by an average of 21.1% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Old Line Bancshares, Inc. (MD) has a payout ratio of 18.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Old Line Bancshares, Inc. (MD) to earn $2.51 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 15.9%.

NASDAQ:OLBK traded up $0.52 during trading hours on Friday, hitting $29.00. 40,082 shares of the stock were exchanged, compared to its average volume of 23,947. Old Line Bancshares, Inc. has a 52-week low of $27.18 and a 52-week high of $35.72. 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 has a market cap of $483.87 million, a P/E ratio of 18.59 and a beta of 0.37.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its quarterly earnings results on Wednesday, October 17th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $27.69 million during the quarter, compared to analysts’ expectations of $27.97 million. Old Line Bancshares, Inc. (MD) had a net margin of 20.78% and a return on equity of 10.63%. On average, research analysts forecast that Old Line Bancshares, Inc. will post 2.19 earnings per share for the current year.

OLBK has been the subject of a number of analyst reports. BidaskClub upgraded Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. Stephens set a $35.00 price target on Old Line Bancshares, Inc. (MD) and gave the company a “buy” rating in a research report on Friday, October 19th. Raymond James dropped their price target on Old Line Bancshares, Inc. (MD) from $37.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Finally, Zacks Investment Research upgraded Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $35.42.

In related news, Director Eric D. Hovde sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $34.25, for a total value of $342,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric D. Hovde sold 12,839 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $34.38, for a total value of $441,404.82. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 1,830 shares of company stock worth $51,270 and sold 47,083 shares worth $1,543,339. Corporate insiders own 10.61% of the company’s stock.

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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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Dividend History for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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