Old Line Bancshares, Inc. (OLBK) Position Cut by Royce & Associates LP

Royce & Associates LP trimmed its stake in Old Line Bancshares, Inc. (NASDAQ:OLBK) by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,414 shares of the bank’s stock after selling 978 shares during the quarter. Royce & Associates LP owned about 0.77% of Old Line Bancshares worth $2,379,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Old Line Bancshares by 37.5% in the first quarter. Vanguard Group Inc. now owns 318,377 shares of the bank’s stock valued at $9,067,000 after purchasing an additional 86,894 shares during the period. Emerald Mutual Fund Advisers Trust grew its holdings in Old Line Bancshares by 133.0% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 203,594 shares of the bank’s stock valued at $5,737,000 after purchasing an additional 116,206 shares during the period. Renaissance Technologies LLC grew its holdings in Old Line Bancshares by 13.1% in the first quarter. Renaissance Technologies LLC now owns 175,700 shares of the bank’s stock valued at $5,004,000 after purchasing an additional 20,400 shares during the period. Dimensional Fund Advisors LP grew its holdings in Old Line Bancshares by 16.1% in the first quarter. Dimensional Fund Advisors LP now owns 141,038 shares of the bank’s stock valued at $4,017,000 after purchasing an additional 19,594 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Old Line Bancshares by 4.2% in the first quarter. Geode Capital Management LLC now owns 50,861 shares of the bank’s stock valued at $1,448,000 after purchasing an additional 2,039 shares during the period. Hedge funds and other institutional investors own 41.63% of the company’s stock.

Shares of Old Line Bancshares, Inc. (NASDAQ OLBK) opened at 27.15 on Wednesday. The company has a 50-day moving average of $27.14 and a 200-day moving average of $27.77. The stock has a market capitalization of $338.04 million, a P/E ratio of 18.99 and a beta of 0.25. Old Line Bancshares, Inc. has a 12-month low of $18.91 and a 12-month high of $29.90.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, September 14th. Old Line Bancshares’s dividend payout ratio (DPR) is 22.38%.

In related news, Director Stephen J. Deadrick purchased 1,800 shares of Old Line Bancshares stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $26.22 per share, with a total value of $47,196.00. Following the completion of the transaction, the director now directly owns 24,472 shares of the company’s stock, valued at $641,655.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen J. Deadrick purchased 200 shares of Old Line Bancshares stock in a transaction dated Monday, August 14th. The stock was bought at an average cost of $262.44 per share, with a total value of $52,488.00. Following the completion of the transaction, the director now directly owns 26,469 shares of the company’s stock, valued at $6,946,524.36. The disclosure for this purchase can be found here. Insiders bought 8,241 shares of company stock valued at $271,562 over the last three months. 25.07% of the stock is owned by insiders.

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OLBK has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Old Line Bancshares from a “buy” rating to a “sell” rating in a report on Thursday, July 20th. BidaskClub downgraded shares of Old Line Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods downgraded shares of Old Line Bancshares from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $31.00 to $29.00 in a report on Monday, July 17th. Finally, ValuEngine upgraded shares of Old Line Bancshares from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Old Line Bancshares has an average rating of “Hold” and an average price target of $26.00.

Old Line Bancshares 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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