Old Line Bancshares Inc. (OLBK) Raised to Hold at Zacks Investment Research
According to Zacks, “Old Line Bancshares is the parent company of Old Line Bank, a Maryland chartered commercial bank headquartered in Waldorf, Maryland. Old Line Bank’s primary market area is the suburban Maryland (Washington, D.C. suburbs) counties of Prince George’s, Charles and northern St. Mary’s. It also targets customers throughout the greater Washington, D.C. metropolitan area. “
Shares of Old Line Bancshares (NASDAQ:OLBK) opened at 19.65 on Wednesday. The firm’s 50-day moving average price is $19.57 and its 200-day moving average price is $18.72. The firm has a market capitalization of $212.99 million, a price-to-earnings ratio of 20.47 and a beta of 0.49. Old Line Bancshares has a 12 month low of $16.34 and a 12 month high of $20.09.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Wednesday, September 14th. Old Line Bancshares’s dividend payout ratio (DPR) is presently 25.00%.
In other news, Director Thomas H. Graham purchased 2,710 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were acquired at an average price of $19.18 per share, with a total value of $51,977.80. Following the completion of the purchase, the director now directly owns 26,439 shares of the company’s stock, valued at approximately $507,100.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 25.81% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. purchased a new position in shares of Old Line Bancshares during the second quarter valued at about $222,000. Bridgeway Capital Management Inc. raised its position in shares of Old Line Bancshares by 234.9% in the second quarter. Bridgeway Capital Management Inc. now owns 79,413 shares of the company’s stock valued at $1,429,000 after buying an additional 55,700 shares during the period. Summit Securities Group LLC purchased a new position in shares of Old Line Bancshares during the second quarter valued at about $270,000. State Street Corp purchased a new position in shares of Old Line Bancshares during the second quarter valued at about $1,188,000. Finally, Advisor Group Inc. purchased a new position in shares of Old Line Bancshares during the second quarter valued at about $155,000. 46.46% of the stock is currently owned by institutional investors and hedge funds.
Old Line Bancshares Company Profile
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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