Old Line Bancshares, Inc. (NASDAQ:OLBK) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday.

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. “

A number of other research analysts have also recently weighed in on the stock. BidaskClub cut shares of Old Line Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods cut shares of Old Line Bancshares from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $31.00 to $29.00 in a research report on Monday, July 17th. Finally, ValuEngine upgraded shares of Old Line Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. 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 has a consensus rating of “Hold” and an average price target of $26.00.

Shares of Old Line Bancshares (NASDAQ:OLBK) opened at 27.08 on Thursday. The stock has a 50 day moving average of $27.15 and a 200 day moving average of $27.76. The stock has a market capitalization of $337.17 million, a PE ratio of 18.94 and a beta of 0.25. Old Line Bancshares has a 52-week low of $18.91 and a 52-week high of $29.90.

TRADEMARK VIOLATION NOTICE: This news story was originally published by Daily Political and is the property of of Daily Political. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.dailypolitical.com/2017/09/13/old-line-bancshares-inc-olbk-upgraded-to-hold-at-zacks-investment-research.html.

In related news, insider James W. Cornelsen purchased 1,813 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were purchased at an average cost of $27.51 per share, for a total transaction of $49,875.63. Following the completion of the acquisition, the insider now owns 169,551 shares in the company, valued at approximately $4,664,348.01. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen J. Deadrick purchased 200 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $262.44 per share, for a total transaction of $52,488.00. Following the completion of the acquisition, the director now owns 26,469 shares of the company’s stock, valued at approximately $6,946,524.36. The disclosure for this purchase can be found here. Insiders have acquired 8,241 shares of company stock worth $271,562 in the last quarter. Company insiders own 25.07% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp grew its holdings in shares of Old Line Bancshares by 0.9% in the second quarter. Stifel Financial Corp now owns 32,748 shares of the bank’s stock worth $924,000 after purchasing an additional 283 shares during the last quarter. American International Group Inc. grew its holdings 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 purchasing an additional 342 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Old Line Bancshares by 4.9% in the second quarter. Rhumbline Advisers now owns 8,939 shares of the bank’s stock worth $252,000 after purchasing an additional 415 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Old Line Bancshares by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 7,950 shares of the bank’s stock worth $224,000 after purchasing an additional 516 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of Old Line Bancshares by 4.9% in the second quarter. Teachers Advisors LLC now owns 15,469 shares of the bank’s stock worth $436,000 after purchasing an additional 726 shares during the last quarter. Hedge funds and other institutional investors own 41.63% 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. The Bank markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients.

Receive News & Ratings for Old Line Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Line Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.