Thomson Horstmann & Bryant Inc. trimmed its position in shares of Old Second Bancorp Inc. (NASDAQ:OSBC) by 6.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,340,116 shares of the financial services provider’s stock after selling 93,138 shares during the period. Old Second Bancorp accounts for approximately 2.5% of Thomson Horstmann & Bryant Inc.’s portfolio, making the stock its largest holding. Thomson Horstmann & Bryant Inc.’s holdings in Old Second Bancorp were worth $20,704,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in OSBC. Wedge Capital Management L L P NC boosted its stake in shares of Old Second Bancorp by 410.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 506,506 shares of the financial services provider’s stock valued at $7,826,000 after purchasing an additional 407,286 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Old Second Bancorp in the 3rd quarter valued at approximately $1,579,000. Martingale Asset Management L P boosted its stake in shares of Old Second Bancorp by 106.7% in the 2nd quarter. Martingale Asset Management L P now owns 162,582 shares of the financial services provider’s stock valued at $2,342,000 after purchasing an additional 83,918 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Old Second Bancorp by 1,234.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 90,226 shares of the financial services provider’s stock valued at $1,394,000 after purchasing an additional 83,465 shares in the last quarter. Finally, Comerica Bank acquired a new stake in shares of Old Second Bancorp in the 3rd quarter valued at approximately $1,111,000. Hedge funds and other institutional investors own 72.26% of the company’s stock.
OSBC has been the topic of a number of research analyst reports. Sandler O’Neill restated a “buy” rating and issued a $18.00 price target on shares of Old Second Bancorp in a research note on Friday, July 27th. Zacks Investment Research upgraded shares of Old Second Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Friday, November 2nd. Finally, BidaskClub upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $17.00.
OSBC opened at $14.53 on Tuesday. Old Second Bancorp Inc. has a 1-year low of $12.35 and a 1-year high of $16.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $432.52 million, a PE ratio of 17.94, a P/E/G ratio of 1.78 and a beta of 0.86.
Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Old Second Bancorp had a net margin of 17.04% and a return on equity of 16.05%. The company had revenue of $31.55 million for the quarter, compared to the consensus estimate of $32.15 million. On average, analysts expect that Old Second Bancorp Inc. will post 1.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Investors of record on Friday, October 26th were issued a $0.01 dividend. The ex-dividend date was Thursday, October 25th. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 4.94%.
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Old Second Bancorp Company Profile
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank that provides a range of banking services. The company accepts demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers revolving lines of credit for working capital; lending for capital expenditures on manufacturing equipment; lending to small business manufactures, service companies, medical and dental entities, and specialty contractors; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage loans, second mortgage loans, and home equity line of credit mortgages; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans, as well as student loans; and overdraft checking.
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