Old Line Bancshares, Inc. (OLBK) Director Buys $47,196.00 in Stock

Old Line Bancshares, Inc. (NASDAQ:OLBK) Director Stephen J. Deadrick acquired 1,800 shares of the stock in a transaction on Friday, August 11th. The shares were bought at an average price of $26.22 per share, for a total transaction of $47,196.00. Following the purchase, the director now owns 24,472 shares in the company, valued at $641,655.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Old Line Bancshares, Inc. (NASDAQ OLBK) traded up 1.16% during trading on Friday, hitting $27.03. The stock had a trading volume of 12,262 shares. The company has a market cap of $336.55 million, a PE ratio of 18.90 and a beta of 0.25. The firm’s 50 day moving average is $27.55 and its 200 day moving average is $27.88. Old Line Bancshares, Inc. has a 1-year low of $18.91 and a 1-year high of $29.90.

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Several large investors have recently modified their holdings of OLBK. Acrospire Investment Management LLC increased its stake in shares of Old Line Bancshares by 44,062.5% in the first quarter. Acrospire Investment Management LLC now owns 3,533 shares of the bank’s stock worth $101,000 after buying an additional 3,525 shares during the period. American International Group Inc. increased 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 during the period. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Old Line Bancshares during the first quarter worth about $180,000. Ameriprise Financial Inc. acquired a new stake in shares of Old Line Bancshares during the second quarter worth about $201,000. Finally, Nationwide Fund Advisors increased its stake in shares of 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 period. Institutional investors own 42.41% of the company’s stock.

A number of equities analysts have commented on the company. BidaskClub lowered Old Line Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods lowered Old Line Bancshares from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $31.00 to $29.00 in a research note on Monday, July 17th. ValuEngine upgraded Old Line Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded Old Line Bancshares from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $26.00.

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. The Bank markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients.

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