First Manhattan Co. reduced its position in Old Line Bancshares, Inc. (NASDAQ:OLBK) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,991 shares of the bank’s stock after selling 5,000 shares during the quarter. First Manhattan Co. owned about 0.40% of Old Line Bancshares worth $1,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OxFORD Asset Management LLP raised its stake in Old Line Bancshares by 15.4% in the 2nd quarter. OxFORD Asset Management LLP now owns 12,264 shares of the bank’s stock valued at $346,000 after purchasing an additional 1,634 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Old Line Bancshares by 29.4% in the 1st quarter. JPMorgan Chase & Co. now owns 29,672 shares of the bank’s stock valued at $845,000 after purchasing an additional 6,743 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Old Line Bancshares by 64.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,857 shares of the bank’s stock valued at $334,000 after purchasing an additional 4,659 shares during the last quarter. Vanguard Group Inc. raised its stake in Old Line Bancshares by 37.5% in the 1st 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 last quarter. Finally, Morgan Stanley raised its stake in Old Line Bancshares by 10.2% in the 1st quarter. Morgan Stanley now owns 42,175 shares of the bank’s stock valued at $1,201,000 after purchasing an additional 3,902 shares during the last quarter. 41.60% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Stephen J. Deadrick acquired 200 shares of Old Line Bancshares stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $262.44 per share, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John M. Suit II acquired 1,000 shares of Old Line Bancshares stock in a transaction dated Thursday, November 2nd. The stock was bought at an average price of $30.25 per share, for a total transaction of $30,250.00. Following the completion of the transaction, the director now directly owns 66,844 shares of the company’s stock, valued at $2,022,031. The disclosure for this purchase can be found here. Insiders bought 3,409 shares of company stock worth $142,347 over the last 90 days. Company insiders own 25.07% of the company’s stock.

Several research firms recently commented on OLBK. ValuEngine downgraded Old Line Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $31.00 target price on shares of Old Line Bancshares in a research note on Thursday, October 26th. Zacks Investment Research raised Old Line Bancshares from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 14th. Finally, BidaskClub downgraded Old Line Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $31.00.

ILLEGAL ACTIVITY WARNING: This story was originally published by Watch List News and is owned by of Watch List News. If you are viewing this story on another domain, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this story can be accessed at https://www.watchlistnews.com/first-manhattan-co-sells-5000-shares-of-old-line-bancshares-inc-olbk/1675528.html.

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)

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 Analyst Ratings Network's FREE daily email newsletter.