Old Line Bancshares, Inc. (NASDAQ:OLBK) Director Gail D. Manuel acquired 409 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were purchased at an average price of $30.35 per share, with a total value of $12,413.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Old Line Bancshares, Inc. (NASDAQ OLBK) opened at 30.15 on Wednesday. The firm’s 50-day moving average is $28.69 and its 200 day moving average is $27.93. Old Line Bancshares, Inc. has a 52-week low of $18.91 and a 52-week high of $30.44. The firm has a market capitalization of $375.40 million, a P/E ratio of 21.08 and a beta of 0.26.
A number of large investors have recently modified their holdings of OLBK. American International Group Inc. lifted its position in Old Line Bancshares by 7.1% during the 1st 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. Metropolitan Life Insurance Co. NY bought a new stake in Old Line Bancshares during the 1st quarter worth about $180,000. Ameriprise Financial Inc. bought a new stake in Old Line Bancshares during the 2nd quarter worth about $201,000. Nationwide Fund Advisors lifted its position in Old Line Bancshares by 40.6% during the 1st quarter. Nationwide Fund Advisors now owns 7,193 shares of the bank’s stock worth $205,000 after buying an additional 2,077 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Old Line Bancshares by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,950 shares of the bank’s stock worth $224,000 after buying an additional 516 shares in the last quarter. 41.60% of the stock is currently owned by hedge funds and other institutional investors.
OLBK has been the subject of several recent research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $31.00 price objective on shares of Old Line Bancshares in a report on Thursday, October 26th. ValuEngine lowered Old Line Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub downgraded shares of Old Line Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research downgraded shares of Old Line Bancshares from a “buy” rating to a “sell” rating in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Old Line Bancshares has a consensus rating of “Hold” and an average price target of $31.00.
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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