Old Line Bancshares, Inc. (OLBK) Shares Sold by Bessemer Group Inc.

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.

In other Old Line Bancshares news, Director John M. Suit II bought 1,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were purchased at an average price of $30.25 per share, with a total value of $30,250.00. Following the purchase, the director now directly owns 66,844 shares of the company’s stock, valued at $2,022,031. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph E. Burnett sold 3,475 shares of Old Line Bancshares stock in a transaction on Monday, October 30th. The shares were sold at an average price of $30.00, for a total value of $104,250.00. Following the sale, the executive vice president now directly owns 51,180 shares in the company, valued at approximately $1,535,400. The disclosure for this sale can be found here. Insiders have acquired a total of 11,209 shares of company stock worth $118,613 in the last ninety days. 25.07% of the stock is owned by company insiders.

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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.

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

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