Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) Director John M. Suit II purchased 500 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was bought at an average cost of $30.25 per share, with a total value of $15,125.00. Following the acquisition, the director now owns 67,844 shares of the company’s stock, valued at approximately $2,052,281. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Old Line Bancshares, Inc. (NASDAQ OLBK) traded down $0.16 on Wednesday, reaching $30.54. 23,408 shares of the company were exchanged, compared to its average volume of 27,332. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.19. Old Line Bancshares, Inc. has a 52-week low of $23.49 and a 52-week high of $30.94. The firm has a market capitalization of $382.38, a price-to-earnings ratio of 21.45 and a beta of 0.27.
The company also recently announced a dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, December 7th. Old Line Bancshares, Inc. (MD)’s dividend payout ratio (DPR) is presently 22.38%.
A number of hedge funds have recently modified their holdings of OLBK. Castine Capital Management LLC purchased a new stake in shares of Old Line Bancshares, Inc. (MD) in the 3rd quarter valued at approximately $4,194,000. Emerald Mutual Fund Advisers Trust increased its stake in Old Line Bancshares, Inc. (MD) by 133.0% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 203,594 shares of the bank’s stock worth $5,737,000 after buying an additional 116,206 shares during the period. Vanguard Group Inc. increased its stake in Old Line Bancshares, Inc. (MD) by 37.5% during the 1st quarter. Vanguard Group Inc. now owns 318,377 shares of the bank’s stock worth $9,067,000 after buying an additional 86,894 shares during the period. Penn Capital Management Co. Inc. purchased a new stake in Old Line Bancshares, Inc. (MD) during the 2nd quarter worth approximately $1,623,000. Finally, State Street Corp increased its stake in Old Line Bancshares, Inc. (MD) by 28.2% during the 2nd quarter. State Street Corp now owns 165,433 shares of the bank’s stock worth $4,662,000 after buying an additional 36,434 shares during the period. 44.25% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the stock. ValuEngine cut shares of Old Line Bancshares, Inc. (MD) from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research upgraded shares of Old Line Bancshares, Inc. (MD) from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Wednesday, November 29th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $31.00 target price on shares of Old Line Bancshares, Inc. (MD) in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Old Line Bancshares, Inc. (MD) currently has a consensus rating of “Hold” and an average price target of $32.00.
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About Old Line Bancshares, Inc. (MD)
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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