Bessemer Group Inc. trimmed its holdings in Old Line Bancshares, Inc. (NASDAQ:OLBK) by 17.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,000 shares of the bank’s stock after selling 1,900 shares during the quarter. Bessemer Group Inc. owned about 0.07% of Old Line Bancshares worth $252,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. American International Group Inc. grew its holdings in Old Line Bancshares 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 purchasing an additional 342 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Old Line Bancshares during the first quarter valued at $180,000. Ameriprise Financial Inc. acquired a new stake in Old Line Bancshares in the 2nd quarter worth about $201,000. The Manufacturers Life Insurance Company boosted its stake in Old Line Bancshares by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,950 shares of the bank’s stock worth $224,000 after buying an additional 516 shares during the last quarter. Finally, PDT Partners LLC acquired a new stake in Old Line Bancshares in the 2nd quarter worth about $242,000. 42.36% of the stock is owned by hedge funds and other institutional investors.
Old Line Bancshares, Inc. (NASDAQ:OLBK) opened at $28.69 on Monday. Old Line Bancshares, Inc. has a 12-month low of $20.09 and a 12-month high of $30.44. The stock has a market capitalization of $357.69, a P/E ratio of 20.06 and a beta of 0.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.94.
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A number of brokerages have issued reports on OLBK. ValuEngine lowered Old Line Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Keefe, Bruyette & Woods reiterated 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 upgraded Old Line Bancshares from a “strong sell” rating to a “hold” rating in a report on Thursday, September 14th. Finally, BidaskClub downgraded 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 given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.00.
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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