Banc Funds Co. LLC cut its position in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 11.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,754,288 shares of the financial services provider's stock after selling 221,400 shares during the period. Old Second Bancorp accounts for 3.0% of Banc Funds Co. LLC's holdings, making the stock its 2nd largest position. Banc Funds Co. LLC owned about 3.91% of Old Second Bancorp worth $27,349,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of Old Second Bancorp during the second quarter worth $33,000. Innealta Capital LLC acquired a new stake in shares of Old Second Bancorp in the second quarter valued at $49,000. Quantbot Technologies LP raised its stake in shares of Old Second Bancorp by 134.0% in the third quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider's stock valued at $98,000 after acquiring an additional 3,587 shares in the last quarter. CWM LLC raised its stake in shares of Old Second Bancorp by 36.3% in the third quarter. CWM LLC now owns 7,966 shares of the financial services provider's stock valued at $124,000 after acquiring an additional 2,123 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Old Second Bancorp in the third quarter valued at $158,000. Hedge funds and other institutional investors own 67.76% of the company's stock.
Old Second Bancorp Stock Performance
Shares of OSBC stock traded up $0.12 during mid-day trading on Monday, hitting $18.72. 82,807 shares of the stock were exchanged, compared to its average volume of 232,964. The stock's fifty day simple moving average is $16.86 and its two-hundred day simple moving average is $15.95. The stock has a market capitalization of $839.59 million, a price-to-earnings ratio of 10.05 and a beta of 1.06. Old Second Bancorp, Inc. has a 12-month low of $13.00 and a 12-month high of $19.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.
Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $71.16 million for the quarter, compared to analyst estimates of $70.95 million. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. On average, analysts forecast that Old Second Bancorp, Inc. will post 1.95 EPS for the current year.
Old Second Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from Old Second Bancorp's previous quarterly dividend of $0.05. Old Second Bancorp's dividend payout ratio (DPR) is currently 12.97%.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. Raymond James cut Old Second Bancorp from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th. DA Davidson set a $18.00 price target on Old Second Bancorp in a research note on Thursday, October 17th. Finally, Piper Sandler raised their price target on Old Second Bancorp from $22.50 to $23.00 and gave the company an "overweight" rating in a research note on Friday, October 18th.
Check Out Our Latest Stock Analysis on OSBC
Old Second Bancorp Profile
(
Free Report)
Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.
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