Old Second Bancorp, Inc. (NASDAQ:OSBC) Stake Decreased by Banc Funds Co. LLC

Banc Funds Co. LLC reduced its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 11.2% in the third quarter, according to its most recent filing with the 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 makes up 3.0% of Banc Funds Co. LLC’s investment portfolio, making the stock its 2nd biggest position. Banc Funds Co. LLC’s holdings in Old Second Bancorp were worth $27,349,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OSBC. nVerses Capital LLC bought a new stake in Old Second Bancorp during the second quarter worth about $33,000. Innealta Capital LLC purchased a new position in shares of Old Second Bancorp during the 2nd quarter valued at about $49,000. Quantbot Technologies LP lifted its position in Old Second Bancorp by 134.0% in the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after buying an additional 3,587 shares during the last quarter. CWM LLC boosted its stake in Old Second Bancorp by 36.3% in the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock worth $124,000 after buying an additional 2,123 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Old Second Bancorp during the third quarter valued at approximately $158,000. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OSBC. Piper Sandler boosted their price objective on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. DA Davidson set a $18.00 price target on shares of Old Second Bancorp in a research report on Thursday, October 17th. Finally, Raymond James downgraded Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $19.00 to $18.00 in a report on Tuesday, September 17th.

Old Second Bancorp Stock Down 0.7 %

Shares of Old Second Bancorp stock opened at $18.60 on Monday. 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, Inc. has a 52-week low of $13.00 and a 52-week high of $19.37. The company’s 50 day moving average price is $16.86 and its 200-day moving average price is $15.95. The stock has a market capitalization of $834.21 million, a price-to-earnings ratio of 10.05 and a beta of 1.06.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $71.16 million for the quarter, compared to analyst estimates of $70.95 million. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. Equities research analysts forecast that Old Second Bancorp, Inc. will post 1.95 EPS for the current year.

Old Second Bancorp Increases Dividend

The firm 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. This represents a $0.24 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Friday, October 25th. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s payout ratio is currently 12.97%.

Old Second Bancorp 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.