Keefe, Bruyette & Woods Reaffirms “Hold” Rating for Old Line Bancshares, Inc. (NASDAQ:OLBK)

Old Line Bancshares, Inc. (NASDAQ:OLBK)‘s stock had its “hold” rating restated by analysts at Keefe, Bruyette & Woods in a report issued on Thursday, October 26th. They presently have a $31.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 7.83% from the company’s previous close.

Several other equities analysts have also issued reports on OLBK. Zacks Investment Research upgraded Old Line Bancshares from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 14th. BidaskClub lowered Old Line Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $31.00.

Old Line Bancshares (NASDAQ OLBK) traded down $0.09 during trading on Thursday, hitting $28.75. The stock had a trading volume of 9,700 shares, compared to its average volume of 25,764. The firm has a market cap of $358.46, a price-to-earnings ratio of 20.10 and a beta of 0.27. Old Line Bancshares has a 52 week low of $19.36 and a 52 week high of $30.44. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.94 and a quick ratio of 0.93.

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In other Old Line Bancshares news, Director John M. Suit II purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were acquired at an average price of $30.25 per share, for a total transaction of $30,250.00. Following the purchase, the director now owns 66,844 shares in the company, valued at $2,022,031. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph E. Burnett sold 3,475 shares of the 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 completion of the sale, the executive vice president now owns 51,180 shares in the company, valued at approximately $1,535,400. The disclosure for this sale can be found here. Insiders acquired a total of 1,609 shares of company stock worth $95,151 in the last 90 days. Company insiders own 25.07% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in shares of Old Line Bancshares by 17.8% during the 3rd quarter. Wells Fargo & Company MN now owns 56,131 shares of the bank’s stock worth $1,572,000 after purchasing an additional 8,478 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Old Line Bancshares by 35.5% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 40,846 shares of the bank’s stock worth $1,144,000 after buying an additional 10,700 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in shares of Old Line Bancshares by 77.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 28,400 shares of the bank’s stock worth $795,000 after buying an additional 12,400 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Old Line Bancshares during the 3rd quarter worth $519,000. Finally, Advisor Group Inc. lifted its position in shares of Old Line Bancshares by 89.0% during the 3rd quarter. Advisor Group Inc. now owns 7,230 shares of the bank’s stock worth $202,000 after buying an additional 3,405 shares during the last quarter. 41.54% of the stock is currently owned by institutional investors.

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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