Insider Buying: Old Line Bancshares, Inc. (OLBK) Director Purchases 720 Shares of Stock
Old Line Bancshares, Inc. (NASDAQ:OLBK) Director Jeffrey A. Rivest acquired 720 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were acquired at an average price of $27.67 per share, with a total value of $19,922.40. Following the acquisition, the director now owns 30,157 shares in the company, valued at $834,444.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Old Line Bancshares, Inc. (NASDAQ OLBK) traded down 0.18% during mid-day trading on Friday, reaching $27.60. The company’s stock had a trading volume of 49,993 shares. Old Line Bancshares, Inc. has a one year low of $18.79 and a one year high of $29.90. The stock’s 50 day moving average is $28.28 and its 200 day moving average is $27.83. The firm has a market cap of $302.39 million, a PE ratio of 19.30 and a beta of 0.26.
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Wednesday, June 7th. Old Line Bancshares’s dividend payout ratio is currently 23.70%.
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A number of equities research analysts have weighed in on the company. ValuEngine raised Old Line Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Old Line Bancshares from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Keefe, Bruyette & Woods lowered Old Line Bancshares from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $31.00 to $29.00 in a research report on Monday, July 17th.
Large investors have recently made changes to their positions in the stock. American International Group Inc. raised its stake in shares of Old Line Bancshares by 7.1% in the first quarter. American International Group Inc. now owns 5,153 shares of the bank’s stock worth $147,000 after buying an additional 342 shares in the last quarter. Guggenheim Capital LLC increased its stake in Old Line Bancshares by 8.9% in the fourth quarter. Guggenheim Capital LLC now owns 12,537 shares of the bank’s stock worth $301,000 after buying an additional 1,024 shares during the last quarter. Teachers Advisors LLC increased its stake in Old Line Bancshares by 8.6% in the fourth quarter. Teachers Advisors LLC now owns 14,743 shares of the bank’s stock worth $354,000 after buying an additional 1,163 shares during the last quarter. Geode Capital Management LLC increased its stake in Old Line Bancshares by 4.2% in the first quarter. Geode Capital Management LLC now owns 50,861 shares of the bank’s stock worth $1,448,000 after buying an additional 2,039 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in Old Line Bancshares by 40.6% in the first quarter. Nationwide Fund Advisors now owns 7,193 shares of the bank’s stock worth $205,000 after buying an additional 2,077 shares during the last quarter. 46.78% of the stock is currently owned by institutional investors.
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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