Old Line Bancshares, Inc. (NASDAQ:OLBK) Director Jeffrey A. Rivest bought 720 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was bought at an average cost of $27.67 per share, for a total transaction of $19,922.40. Following the acquisition, the director now owns 30,157 shares of the company’s stock, valued at approximately $834,444.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Old Line Bancshares, Inc. (NASDAQ OLBK) traded down 2.03% on Monday, hitting $27.04. The stock had a trading volume of 14,125 shares. The company has a market cap of $296.25 million, a price-to-earnings ratio of 18.91 and a beta of 0.26. Old Line Bancshares, Inc. has a 12-month low of $18.79 and a 12-month high of $29.90. The company’s 50 day moving average price is $28.28 and its 200-day moving average price is $27.83.
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A number of research analysts have recently issued reports on the company. Zacks Investment Research lowered Old Line Bancshares from a “buy” rating to a “sell” rating in a report on Thursday. Keefe, Bruyette & Woods lowered Old Line Bancshares from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $31.00 to $29.00 in a report on Monday, July 17th. Finally, ValuEngine raised Old Line Bancshares from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.
Several hedge funds have recently made changes to their positions in OLBK. Vanguard Group Inc. increased its stake in shares of Old Line Bancshares by 37.5% in the first quarter. Vanguard Group Inc. now owns 318,377 shares of the bank’s stock valued at $9,067,000 after buying an additional 86,894 shares during the period. Renaissance Technologies LLC increased its stake in shares of Old Line Bancshares by 13.1% in the first quarter. Renaissance Technologies LLC now owns 175,700 shares of the bank’s stock valued at $5,004,000 after buying an additional 20,400 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Old Line Bancshares by 16.1% in the first quarter. Dimensional Fund Advisors LP now owns 141,038 shares of the bank’s stock valued at $4,017,000 after buying an additional 19,594 shares during the period. State Street Corp increased its stake in shares of Old Line Bancshares by 22.7% in the fourth quarter. State Street Corp now owns 119,444 shares of the bank’s stock valued at $2,865,000 after buying an additional 22,069 shares during the period. Finally, Royce & Associates LP increased its stake in shares of Old Line Bancshares by 402.3% in the first quarter. Royce & Associates LP now owns 85,392 shares of the bank’s stock valued at $2,432,000 after buying an additional 68,392 shares during the period. 46.78% of the stock is currently owned by institutional investors and hedge funds.
About Old Line Bancshares
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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