Ameriprise Financial Inc. Buys New Holdings in Old Line Bancshares, Inc. (OLBK)

Ameriprise Financial Inc. bought a new stake in shares of Old Line Bancshares, Inc. (NASDAQ:OLBK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,115 shares of the bank’s stock, valued at approximately $201,000. Ameriprise Financial Inc. owned approximately 0.06% of Old Line Bancshares as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. American International Group Inc. grew its holdings in Old Line Bancshares by 7.1% during the 1st 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 in the last quarter. Rhumbline Advisers grew its holdings in Old Line Bancshares by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 8,939 shares of the bank’s stock valued at $252,000 after buying an additional 415 shares in the last quarter. Teachers Advisors LLC grew its holdings in Old Line Bancshares by 4.9% during the 2nd quarter. Teachers Advisors LLC now owns 15,469 shares of the bank’s stock valued at $436,000 after buying an additional 726 shares in the last quarter. Geode Capital Management LLC grew its holdings in Old Line Bancshares by 4.2% during the 1st quarter. Geode Capital Management LLC now owns 50,861 shares of the bank’s stock valued at $1,448,000 after buying an additional 2,039 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Old Line Bancshares by 25.3% during the 2nd quarter. Bessemer Group Inc. now owns 10,900 shares of the bank’s stock valued at $307,000 after buying an additional 2,200 shares in the last quarter. 41.57% of the stock is owned by institutional investors and hedge funds.

OLBK has been the subject of a number of recent analyst reports. ValuEngine lowered Old Line Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $31.00 target price on shares of Old Line Bancshares in a report on Thursday, October 26th. Zacks Investment Research raised Old Line Bancshares from a “strong sell” rating to a “hold” rating in a report on Thursday, September 14th. Finally, BidaskClub lowered Old Line Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $31.00.

In other Old Line Bancshares news, Director John M. Suit II acquired 1,000 shares of the business’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 completion of the acquisition, the director now owns 66,844 shares of the company’s stock, valued at $2,022,031. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph E. Burnett sold 3,475 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $30.00, for a total value of $104,250.00. Following the transaction, the executive vice president now directly owns 51,180 shares of the company’s stock, valued at approximately $1,535,400. The disclosure for this sale can be found here. Insiders have bought 11,209 shares of company stock valued at $118,613 in the last three months. 25.07% of the stock is owned by insiders.

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Old Line Bancshares, Inc. (NASDAQ OLBK) opened at $28.69 on Friday. Old Line Bancshares, Inc. has a twelve month low of $20.09 and a twelve month high of $30.44. 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 company has a market capitalization of $357.71, a PE ratio of 20.06 and a beta of 0.27.

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.

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Institutional Ownership by Quarter for Old Line Bancshares (NASDAQ:OLBK)

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