Goldman Sachs Group Inc. Trims Stake in Old Line Bancshares, Inc. (OLBK)

Goldman Sachs Group Inc. trimmed its position in shares of Old Line Bancshares, Inc. (NASDAQ:OLBK) by 36.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,089 shares of the bank’s stock after selling 7,355 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.11% of Old Line Bancshares worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp lifted its holdings in shares of Old Line Bancshares by 0.9% during the 2nd quarter. Stifel Financial Corp now owns 32,748 shares of the bank’s stock valued at $924,000 after buying an additional 283 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Old Line Bancshares by 7.1% during the 1st quarter. American International Group Inc. now owns 5,153 shares of the bank’s stock valued at $147,000 after buying an additional 342 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Old Line Bancshares by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 8,939 shares of the bank’s stock valued at $252,000 after buying an additional 415 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Old Line Bancshares by 4.9% during the 2nd quarter. Teachers Advisors LLC now owns 15,469 shares of the bank’s stock valued at $436,000 after buying an additional 726 shares during the last quarter. Finally, OxFORD Asset Management LLP lifted its holdings in shares of Old Line Bancshares by 15.4% during the 2nd quarter. OxFORD Asset Management LLP now owns 12,264 shares of the bank’s stock valued at $346,000 after buying an additional 1,634 shares during the last quarter. Institutional investors and hedge funds own 41.57% of the company’s stock.

In related news, EVP Joseph E. Burnett bought 9,800 shares of Old Line Bancshares stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average cost of $7.75 per share, for a total transaction of $75,950.00. Following the acquisition, the executive vice president now owns 63,794 shares in the company, valued at $494,403.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John M. Suit II bought 1,000 shares of Old Line Bancshares stock in a transaction that occurred on Thursday, November 2nd. The stock was bought at an average price of $30.25 per share, with a total value of $30,250.00. Following the completion of the acquisition, the director now owns 66,844 shares in the company, valued at approximately $2,022,031. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 11,209 shares of company stock valued at $118,613. Corporate insiders own 25.07% of the company’s stock.

Shares of Old Line Bancshares, Inc. (NASDAQ:OLBK) opened at $28.91 on Thursday. Old Line Bancshares, Inc. has a 1-year low of $19.36 and a 1-year high of $30.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $364.80, a P/E ratio of 20.46 and a beta of 0.27.

TRADEMARK VIOLATION NOTICE: “Goldman Sachs Group Inc. Trims Stake in Old Line Bancshares, Inc. (OLBK)” was reported by Markets Daily and is the sole property of of Markets Daily. If you are reading this article on another site, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this article can be accessed at https://www.themarketsdaily.com/2017/11/16/goldman-sachs-group-inc-trims-stake-in-old-line-bancshares-inc-olbk.html.

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $31.00 price target on shares of Old Line Bancshares in a report on Thursday, October 26th. ValuEngine lowered Old Line Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. 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 lowered Old Line Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price 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.

Want to see what other hedge funds are holding OLBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Line Bancshares, Inc. (NASDAQ:OLBK).

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

Receive News & Ratings for Old Line Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Line Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply