Old Line Bancshares, Inc. (OLBK) Downgraded by ValuEngine

ValuEngine cut shares of Old Line Bancshares, Inc. (NASDAQ:OLBK) from a buy rating to a hold rating in a report issued on Tuesday.

Several other equities research analysts have also issued reports on OLBK. Keefe, Bruyette & Woods lowered shares of Old Line Bancshares from an outperform rating to a market perform rating and lowered their price target for the company from $31.00 to $29.00 in a research note on Monday, July 17th. Zacks Investment Research lowered shares of Old Line Bancshares from a buy rating to a sell rating in a research note on Thursday, July 20th. Finally, BidaskClub lowered shares of Old Line Bancshares from a sell rating to a strong sell rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $31.00.

Old Line Bancshares (OLBK) traded up $0.02 on Tuesday, hitting $29.85. The stock had a trading volume of 19,306 shares, compared to its average volume of 30,071. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market cap of $375.15 million, a PE ratio of 21.07 and a beta of 0.27.

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In other news, Director John M. Suit II acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was bought at an average price of $30.25 per share, with a total value of $30,250.00. Following the transaction, the director now directly owns 66,844 shares in the company, valued at approximately $2,022,031. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen J. Deadrick acquired 1,800 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $26.22 per share, with a total value of $47,196.00. Following the transaction, the director now owns 24,472 shares in the company, valued at $641,655.84. The disclosure for this purchase can be found here. In the last three months, insiders bought 3,409 shares of company stock valued at $142,347. Insiders own 25.07% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Old Line Bancshares by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 323,213 shares of the bank’s stock worth $9,108,000 after buying an additional 4,836 shares during the period. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Old Line Bancshares by 133.0% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 203,594 shares of the bank’s stock worth $5,737,000 after buying an additional 116,206 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Old Line Bancshares by 13.1% during the 1st quarter. Renaissance Technologies LLC now owns 175,700 shares of the bank’s stock worth $5,004,000 after buying an additional 20,400 shares during the period. State Street Corp boosted its holdings in shares of Old Line Bancshares by 28.2% during the 2nd quarter. State Street Corp now owns 165,433 shares of the bank’s stock worth $4,662,000 after buying an additional 36,434 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Old Line Bancshares by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 159,148 shares of the bank’s stock worth $4,485,000 after buying an additional 18,110 shares during the period. 41.60% of the stock is owned by institutional investors and hedge funds.

Old Line Bancshares Company Profile

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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