BlackRock Inc. increased its holdings in Old Line Bancshares, Inc. (NASDAQ:OLBK) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 406,852 shares of the bank’s stock after purchasing an additional 6,563 shares during the quarter. BlackRock Inc. owned approximately 3.25% of Old Line Bancshares worth $11,977,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of OLBK. OxFORD Asset Management LLP boosted its position in Old Line Bancshares by 21.6% during the third quarter. OxFORD Asset Management LLP now owns 14,910 shares of the bank’s stock valued at $419,000 after acquiring an additional 2,646 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Old Line Bancshares by 14.2% during the third quarter. Stifel Financial Corp now owns 37,397 shares of the bank’s stock valued at $1,050,000 after purchasing an additional 4,649 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Old Line Bancshares by 8.4% during the fourth quarter. Wells Fargo & Company MN now owns 60,837 shares of the bank’s stock valued at $1,791,000 after purchasing an additional 4,706 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Old Line Bancshares by 17.0% during the fourth quarter. Bank of New York Mellon Corp now owns 39,353 shares of the bank’s stock valued at $1,158,000 after purchasing an additional 5,714 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Old Line Bancshares 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 during the period. 47.26% of the stock is currently owned by institutional investors.
Shares of NASDAQ OLBK opened at $34.49 on Tuesday. Old Line Bancshares, Inc. has a 1-year low of $26.01 and a 1-year high of $34.69. The stock has a market cap of $429.53, a PE ratio of 22.11 and a beta of 0.28. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.18.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.93%. Old Line Bancshares’s dividend payout ratio is presently 20.51%.
In related news, Director James R. Sr Clifford, Sr. sold 1,500 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $31.94, for a total value of $47,910.00. Following the sale, the director now owns 13,598 shares in the company, valued at approximately $434,320.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carla Hargrove Mcgill bought 5,000 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was acquired at an average price of $32.57 per share, for a total transaction of $162,850.00. Following the acquisition, the director now directly owns 22,123 shares in the company, valued at $720,546.11. The disclosure for this purchase can be found here. Insiders purchased a total of 6,477 shares of company stock worth $209,403 in the last 90 days. 25.07% of the stock is currently owned by company insiders.
OLBK has been the topic of several research reports. Sandler O’Neill reiterated a “buy” rating and set a $34.50 price objective on shares of Old Line Bancshares in a report on Thursday, January 25th. Zacks Investment Research upgraded shares of Old Line Bancshares from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Saturday, January 13th. BidaskClub upgraded shares of Old Line Bancshares from a “hold” rating to a “buy” rating in a report on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $35.00 price objective on shares of Old Line Bancshares in a report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $34.50.
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Old Line Bancshares Profile
Old Line Bancshares, Inc operates as the bank holding company for Old Line Bank that provides banking products and services to small and medium size businesses, entrepreneurs, professionals, consumers, and high net worth clients. The company accepts a range of deposit products, including demand, NOW, money market, and savings accounts, as well as certificates of deposit.
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