Forum Financial Management LP Sells 1,464,782 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Forum Financial Management LP lowered its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 54.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,234,213 shares of the financial services provider's stock after selling 1,464,782 shares during the period. Old Second Bancorp makes up 0.3% of Forum Financial Management LP's portfolio, making the stock its 23rd biggest position. Forum Financial Management LP owned approximately 2.75% of Old Second Bancorp worth $19,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Old Second Bancorp by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider's stock worth $33,548,000 after buying an additional 45,955 shares during the period. Boston Partners grew its position in shares of Old Second Bancorp by 300.6% in the 1st quarter. Boston Partners now owns 55,735 shares of the financial services provider's stock valued at $771,000 after purchasing an additional 41,821 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in Old Second Bancorp during the 2nd quarter worth approximately $759,000. SG Americas Securities LLC acquired a new stake in Old Second Bancorp during the 2nd quarter worth approximately $260,000. Finally, AQR Capital Management LLC raised its holdings in Old Second Bancorp by 20.1% during the 2nd quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider's stock worth $4,561,000 after buying an additional 51,652 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Raymond James downgraded shares of Old Second Bancorp from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $19.00 to $18.00 in a research report on Tuesday, September 17th. Piper Sandler increased their target price on Old Second Bancorp from $22.50 to $23.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. Finally, DA Davidson set a $18.00 price target on Old Second Bancorp in a report on Thursday, October 17th.

Old Second Bancorp Stock Down 1.0 %

Old Second Bancorp stock traded down $0.16 during mid-day trading on Monday, reaching $16.24. The company's stock had a trading volume of 157,974 shares, compared to its average volume of 228,428. The company has a market capitalization of $728.36 million, a price-to-earnings ratio of 8.78 and a beta of 1.06. Old Second Bancorp, Inc. has a 12 month low of $13.00 and a 12 month high of $17.46. The business's 50 day simple moving average is $16.22 and its 200 day simple moving average is $15.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

Old Second Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be given a $0.06 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a yield of 1.48%. This is an increase from Old Second Bancorp's previous quarterly dividend of $0.05. Old Second Bancorp's dividend payout ratio (DPR) is 12.97%.

Old Second Bancorp Company Profile

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.