Old Line Bancshares, Inc. (MD) (OLBK) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a buy rating to a hold rating in a report issued on Wednesday morning.

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 equities analysts also recently issued reports on the stock. ValuEngine downgraded shares of Old Line Bancshares, Inc. (MD) from a buy rating to a hold rating in a report on Friday, December 1st. Keefe, Bruyette & Woods reissued a hold rating and issued a $31.00 price objective on shares of Old Line Bancshares, Inc. (MD) in a report on Thursday, October 26th.

Shares of Old Line Bancshares, Inc. (NASDAQ OLBK) opened at $29.55 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $368.42, a PE ratio of 22.91 and a beta of 0.27. Old Line Bancshares, Inc. has a 1-year low of $23.49 and a 1-year high of $30.94.

The firm also recently disclosed a dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, December 7th. Old Line Bancshares, Inc. (MD)’s payout ratio is 24.81%.

In other Old Line Bancshares, Inc. (MD) news, EVP Joseph E. Burnett acquired 9,800 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average price of $7.75 per share, with a total value of $75,950.00. Following the completion of the acquisition, the executive vice president now owns 63,794 shares in the company, valued at approximately $494,403.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph E. Burnett sold 3,475 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $30.00, for a total transaction of $104,250.00. Following the completion of the transaction, the executive vice president now directly owns 51,180 shares in the company, valued at approximately $1,535,400. The disclosure for this sale can be found here. In the last three months, insiders purchased 11,709 shares of company stock worth $133,738. 25.07% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Old Line Bancshares, Inc. (MD) by 1.5% during the second quarter. Vanguard Group Inc. now owns 323,213 shares of the bank’s stock valued at $9,108,000 after purchasing an additional 4,836 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Old Line Bancshares, Inc. (MD) by 11.9% during the third quarter. Dimensional Fund Advisors LP now owns 178,141 shares of the bank’s stock valued at $4,988,000 after purchasing an additional 18,993 shares in the last quarter. State Street Corp lifted its holdings in Old Line Bancshares, Inc. (MD) by 28.2% during the second quarter. State Street Corp now owns 165,433 shares of the bank’s stock valued at $4,662,000 after purchasing an additional 36,434 shares in the last quarter. Castine Capital Management LLC purchased a new position in Old Line Bancshares, Inc. (MD) during the third quarter valued at approximately $4,194,000. Finally, Northern Trust Corp lifted its holdings in Old Line Bancshares, Inc. (MD) by 4.2% during the second quarter. Northern Trust Corp now owns 94,335 shares of the bank’s stock valued at $2,659,000 after purchasing an additional 3,778 shares in the last quarter. 44.25% of the stock is currently owned by institutional investors.

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About Old Line Bancshares, Inc. (MD)

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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