California State Teachers Retirement System Invests $316,000 in Old Line Bancshares Inc. (OLBK)
California State Teachers Retirement System acquired a new stake in shares of Old Line Bancshares Inc. (NASDAQ:OLBK) during the second quarter, Holdings Channel reports. The fund acquired 17,544 shares of the company’s stock, valued at approximately $316,000. California State Teachers Retirement System owned 0.16% of Old Line Bancshares at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC boosted its stake in Old Line Bancshares by 4.7% in the second quarter. ClariVest Asset Management LLC now owns 15,700 shares of the company’s stock valued at $283,000 after buying an additional 700 shares during the period. Bank of New York Mellon Corp bought a new stake in Old Line Bancshares during the second quarter valued at about $286,000. Geode Capital Management LLC boosted its stake in Old Line Bancshares by 14.3% in the first quarter. Geode Capital Management LLC now owns 21,012 shares of the company’s stock valued at $378,000 after buying an additional 2,633 shares during the period. Royal Bank of Canada boosted its stake in Old Line Bancshares by 35.2% in the first quarter. Royal Bank of Canada now owns 23,262 shares of the company’s stock valued at $419,000 after buying an additional 6,060 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Old Line Bancshares by 64.6% in the first quarter. Renaissance Technologies LLC now owns 36,199 shares of the company’s stock valued at $653,000 after buying an additional 14,201 shares during the period. 46.46% of the stock is owned by institutional investors.
Shares of Old Line Bancshares Inc. (NASDAQ:OLBK) traded up 1.84% during midday trading on Monday, hitting $19.89. 614 shares of the stock traded hands. Old Line Bancshares Inc. has a 52-week low of $16.34 and a 52-week high of $20.09. The stock has a 50-day moving average of $19.57 and a 200-day moving average of $18.69. The company has a market cap of $215.59 million, a price-to-earnings ratio of 20.72 and a beta of 0.49.
Old Line Bancshares (NASDAQ:OLBK) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Old Line Bancshares had a return on equity of 8.24% and a net margin of 16.40%. On average, equities analysts predict that Old Line Bancshares Inc. will post $1.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.23%. The ex-dividend date was Wednesday, September 14th. Old Line Bancshares’s payout ratio is currently 25.00%.
Separately, Zacks Investment Research raised shares of Old Line Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, October 12th.
In other news, Director Thomas H. Graham acquired 2,710 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was purchased at an average cost of $19.18 per share, for a total transaction of $51,977.80. Following the completion of the transaction, the director now owns 26,439 shares in the company, valued at $507,100.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 25.81% of the company’s stock.
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. It markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients.
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