Old Line Bancshares, Inc. (NASDAQ:OLBK) insider James W. Cornelsen purchased 1,813 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were bought at an average price of $27.51 per share, for a total transaction of $49,875.63. Following the completion of the transaction, the insider now owns 169,551 shares of the company’s stock, valued at $4,664,348.01. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Shares of Old Line Bancshares, Inc. (NASDAQ:OLBK) traded up 2.43% during midday trading on Wednesday, hitting $27.45. The stock had a trading volume of 28,879 shares. Old Line Bancshares, Inc. has a 12 month low of $18.55 and a 12 month high of $29.90. The stock’s 50 day moving average price is $28.30 and its 200 day moving average price is $27.84. The firm has a market cap of $300.74 million, a price-to-earnings ratio of 19.20 and a beta of 0.26.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were issued a $0.08 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.32 annualized dividend and a yield of 1.17%. Old Line Bancshares’s dividend payout ratio (DPR) is presently 23.70%.

ILLEGAL ACTIVITY NOTICE: “James W. Cornelsen Buys 1,813 Shares of Old Line Bancshares, Inc. (NASDAQ:OLBK) Stock” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/07/19/james-w-cornelsen-buys-1813-shares-of-old-line-bancshares-inc-nasdaqolbk-stock.html.

OLBK has been the topic of several analyst reports. Zacks Investment Research cut Old Line Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. ValuEngine upgraded Old Line Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods cut 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 report on Monday.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in shares of Old Line Bancshares during the fourth quarter valued at $569,000. State Street Corp increased its position in shares of Old Line Bancshares by 22.7% in the fourth quarter. State Street Corp now owns 119,444 shares of the bank’s stock valued at $2,865,000 after buying an additional 22,069 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Old Line Bancshares by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 121,444 shares of the bank’s stock valued at $2,912,000 after buying an additional 10,051 shares during the period. Renaissance Technologies LLC increased its position in shares of Old Line Bancshares by 48.5% in the fourth quarter. Renaissance Technologies LLC now owns 155,300 shares of the bank’s stock valued at $3,724,000 after buying an additional 50,700 shares during the period. Finally, Guggenheim Capital LLC increased its position in shares of Old Line Bancshares by 8.9% in the fourth quarter. Guggenheim Capital LLC now owns 12,537 shares of the bank’s stock valued at $301,000 after buying an additional 1,024 shares during the period. Institutional investors own 46.78% 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.

Insider Buying and Selling by Quarter for Old Line Bancshares (NASDAQ:OLBK)

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.