The Manufacturers Life Insurance Company Sells 27,971 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

The Manufacturers Life Insurance Company trimmed its position in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 963,161 shares of the financial services provider's stock after selling 27,971 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 2.15% of Old Second Bancorp worth $15,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Old Second Bancorp by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 358,346 shares of the financial services provider's stock worth $5,587,000 after purchasing an additional 25,570 shares during the period. Intech Investment Management LLC acquired a new stake in Old Second Bancorp in the third quarter worth about $158,000. Princeton Capital Management LLC increased its position in Old Second Bancorp by 7.8% in the third quarter. Princeton Capital Management LLC now owns 13,770 shares of the financial services provider's stock worth $215,000 after purchasing an additional 1,000 shares during the period. Quest Partners LLC increased its position in Old Second Bancorp by 173.0% in the third quarter. Quest Partners LLC now owns 38,315 shares of the financial services provider's stock worth $597,000 after purchasing an additional 24,279 shares during the period. Finally, Empowered Funds LLC increased its position in Old Second Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 115,181 shares of the financial services provider's stock worth $1,796,000 after purchasing an additional 5,762 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Old Second Bancorp Stock Down 0.3 %

Shares of OSBC traded down $0.05 on Monday, hitting $18.55. The company's stock had a trading volume of 41,286 shares, compared to its average volume of 232,775. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm's fifty day moving average price is $16.86 and its 200-day moving average price is $15.95. Old Second Bancorp, Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $19.37. The firm has a market capitalization of $831.97 million, a price-to-earnings ratio of 10.05 and a beta of 1.06.

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, beating the consensus estimate of $0.48 by $0.03. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. The business had revenue of $71.16 million during the quarter, compared to analyst estimates of $70.95 million. On average, equities research analysts expect that Old Second Bancorp, Inc. will post 1.95 EPS for the current year.

Old Second Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 25th were paid a $0.06 dividend. This is a boost from Old Second Bancorp's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.24 annualized dividend and a yield of 1.29%. Old Second Bancorp's payout ratio is presently 12.97%.

About Old Second Bancorp

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.