ValuEngine Downgrades Old Line Bancshares, Inc. (MD) (OLBK) to Hold

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Old Line Bancshares, Inc. (MD) from a “strong sell” rating to a “hold” rating in a report on Thursday, September 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $31.00 price objective on shares of Old Line Bancshares, Inc. (MD) in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $32.00.

Old Line Bancshares, Inc. (NASDAQ OLBK) traded up $0.02 on Friday, reaching $30.24. 17,889 shares of the company’s stock traded hands, compared to its average volume of 24,617. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $377.02, a P/E ratio of 21.13 and a beta of 0.27. Old Line Bancshares, Inc. has a fifty-two week low of $22.38 and a fifty-two week high of $30.50.

In other news, EVP Joseph E. Burnett sold 3,475 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $30.00, for a total value of $104,250.00. Following the completion of the sale, the executive vice president now directly owns 51,180 shares in the company, valued at $1,535,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph E. Burnett bought 9,800 shares of Old Line Bancshares, Inc. (MD) stock in a transaction dated Monday, November 13th. The stock was acquired at an average price of $7.75 per share, with a total value of $75,950.00. Following the completion of the transaction, the executive vice president now directly owns 63,794 shares of the company’s stock, valued at $494,403.50. The disclosure for this purchase can be found here. Insiders bought 11,709 shares of company stock valued at $133,738 over the last quarter. Company insiders own 25.07% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of OLBK. American International Group Inc. raised its position in shares of Old Line Bancshares, Inc. (MD) by 7.1% in the first quarter. American International Group Inc. now owns 5,153 shares of the bank’s stock valued at $147,000 after buying an additional 342 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Old Line Bancshares, Inc. (MD) in the first quarter valued at about $180,000. Ameriprise Financial Inc. acquired a new stake in shares of Old Line Bancshares, Inc. (MD) in the second quarter valued at about $201,000. Advisor Group Inc. raised its position in shares of Old Line Bancshares, Inc. (MD) by 89.0% in the third quarter. Advisor Group Inc. now owns 7,230 shares of the bank’s stock valued at $202,000 after buying an additional 3,405 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Old Line Bancshares, Inc. (MD) by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 7,950 shares of the bank’s stock valued at $224,000 after buying an additional 516 shares during the last quarter. Institutional investors and hedge funds own 44.19% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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