Banc Funds Co. LLC reduced its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,616,078 shares of the financial services provider's stock after selling 138,210 shares during the period. Old Second Bancorp makes up approximately 3.2% of Banc Funds Co. LLC's investment portfolio, making the stock its 2nd biggest holding. Banc Funds Co. LLC owned 3.60% of Old Second Bancorp worth $28,734,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. River Street Advisors LLC purchased a new position in shares of Old Second Bancorp during the fourth quarter worth $3,363,000. Vanguard Group Inc. increased its holdings in shares of Old Second Bancorp by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 2,637,718 shares of the financial services provider's stock valued at $46,899,000 after purchasing an additional 181,783 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Old Second Bancorp by 16.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider's stock valued at $17,174,000 after purchasing an additional 153,187 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Old Second Bancorp by 10.5% in the 4th quarter. American Century Companies Inc. now owns 1,038,495 shares of the financial services provider's stock valued at $18,464,000 after purchasing an additional 98,617 shares during the period. Finally, MSH Capital Advisors LLC purchased a new stake in Old Second Bancorp during the fourth quarter worth $1,508,000. 67.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
OSBC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Old Second Bancorp from $22.00 to $24.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Stephens upped their price target on Old Second Bancorp from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $20.90.
Read Our Latest Analysis on OSBC
Old Second Bancorp Price Performance
Shares of OSBC traded up $0.41 during trading hours on Tuesday, hitting $15.09. 55,235 shares of the stock were exchanged, compared to its average volume of 251,735. The stock's 50-day moving average price is $16.65 and its two-hundred day moving average price is $17.42. Old Second Bancorp, Inc. has a 12-month low of $13.26 and a 12-month high of $19.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $679.53 million, a price-to-earnings ratio of 8.08 and a beta of 0.84.
Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. Research analysts expect that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.
Old Second Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, April 25th. Old Second Bancorp's dividend payout ratio is presently 12.83%.
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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