Old Line Bancshares (NASDAQ:OLBK) was initiated coverage with a market perform rating and price target of $20 a share by Keefe Bruyette on Wednesday.
The stock is down 1.25% or $0.22 after the news, hitting $17.36 per share. About 260 shares traded hands. Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) has risen 12.26% since July 7, 2015 and is uptrending. It has outperformed by 23.27% the Samp;P500.
Old Line Bancshares, Inc. operates as the bank holding company for Old Line Bank that provides commercial banking products and services to small and medium size businesses, entrepreneurs, professionals, consumers, and high net worth clients. It accepts various deposit products, including demand, NOW, money market, and savings accounts, as well as certificates of deposit. The company also offers lending products comprising commercial and industrial loans, such as lines of credit, revolving credit facilities, accounts receivable financing, term loans, equipment loans, small business administration loans, standby letters of credit, and unsecured loans; commercial real estate loans; consumer oriented residential real estate loans that consist of funds advanced for the construction of single family residences, multi-family housing, and pre-sold homes; home equity loans and home improvement loans; land acquisition and development loans; and secured and unsecured consumer installment loans.
In addition, it provides safe deposit boxes, wire transfer services, debit cards, prepaid cards, automated teller machine services, credit cards, and Internet and mobile banking services; and investment services, including investment management, estate and succession planning, and brokerage services. Further, the company provides commercial account services which comprise direct deposit of payroll, overnight sweep services, lockbox services, and remote deposit capture services. As of April 15, 2015, it had 19 branches in Washington, DC suburbs and Southern Maryland. The company was founded in 1989 and is headquartered in Bowie, Maryland.