Old Line Bancshares Inc. Announces Quarterly Dividend of $0.06 (OLBK)
Old Line Bancshares Inc. (NASDAQ:OLBK) announced a quarterly dividend on Friday, November 25th. Investors of record on Friday, December 16th will be given a dividend of 0.06 per share on Friday, December 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, December 14th.
Old Line Bancshares (NASDAQ:OLBK) traded up 1.76% during trading on Friday, hitting $21.36. 10,877 shares of the stock traded hands. The company’s 50 day moving average price is $19.96 and its 200 day moving average price is $19.04. Old Line Bancshares has a 12 month low of $16.75 and a 12 month high of $21.93. The company has a market cap of $231.95 million, a P/E ratio of 21.55 and a beta of 0.34.
Old Line Bancshares (NASDAQ:OLBK) last announced its quarterly earnings data on Thursday, October 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Old Line Bancshares had a return on equity of 8.34% and a net margin of 16.40%. On average, equities research analysts anticipate that Old Line Bancshares will post $1.15 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded Old Line Bancshares from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, October 25th.
In other news, Director Carla Hargrove Mcgill purchased 2,500 shares of the company’s stock in a transaction on Tuesday, November 8th. The stock was bought at an average cost of $19.67 per share, for a total transaction of $49,175.00. Following the completion of the purchase, the director now directly owns 8,073 shares of the company’s stock, valued at approximately $158,795.91. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey A. Rivest purchased 2,000 shares of the company’s stock in a transaction on Monday, October 31st. The shares were purchased at an average price of $19.72 per share, with a total value of $39,440.00. Following the completion of the purchase, the director now directly owns 26,957 shares of the company’s stock, valued at $531,592.04. The disclosure for this purchase can be found here. 25.81% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of Old Line Bancshares during the third quarter worth approximately $153,000. Advisor Group Inc. acquired a new position in shares of Old Line Bancshares during the second quarter worth approximately $155,000. Nationwide Fund Advisors acquired a new position in shares of Old Line Bancshares during the second quarter worth approximately $218,000. Teachers Advisors Inc. acquired a new position in shares of Old Line Bancshares during the second quarter worth approximately $244,000. Finally, Morgan Stanley increased its position in shares of Old Line Bancshares by 10.8% in the third quarter. Morgan Stanley now owns 13,284 shares of the company’s stock worth $262,000 after buying an additional 1,297 shares in the last quarter. Institutional investors and hedge funds own 46.46% of the company’s stock.
About Old Line Bancshares
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. It markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients.
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