Los Angeles Capital Management LLC Decreases Stake in Old Second Bancorp, Inc. $OSBC

Los Angeles Capital Management LLC cut its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 17.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,634 shares of the financial services provider’s stock after selling 6,755 shares during the period. Los Angeles Capital Management LLC owned 0.07% of Old Second Bancorp worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strs Ohio acquired a new stake in shares of Old Second Bancorp during the 1st quarter worth about $88,000. Quarry LP increased its stake in Old Second Bancorp by 145.5% in the first quarter. Quarry LP now owns 5,802 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 3,439 shares during the last quarter. Quantbot Technologies LP raised its holdings in Old Second Bancorp by 50.4% during the first quarter. Quantbot Technologies LP now owns 11,322 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 3,794 shares in the last quarter. Avantax Advisory Services Inc. purchased a new stake in shares of Old Second Bancorp during the 1st quarter worth approximately $193,000. Finally, Dakota Wealth Management purchased a new stake in shares of Old Second Bancorp during the 1st quarter worth approximately $200,000. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Old Second Bancorp

In related news, insider Darin Patrick Campbell sold 31,159 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $17.89, for a total transaction of $557,434.51. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

OSBC has been the subject of a number of research analyst reports. Wall Street Zen raised Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Wednesday, October 8th. DA Davidson increased their price objective on Old Second Bancorp from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $21.63.

Old Second Bancorp Stock Up 0.5%

OSBC opened at $18.44 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.85 and a quick ratio of 0.85. Old Second Bancorp, Inc. has a 12 month low of $14.14 and a 12 month high of $19.46. The stock has a market capitalization of $971.22 million, a P/E ratio of 12.21 and a beta of 0.86. The business has a 50 day simple moving average of $17.89 and a 200-day simple moving average of $17.60.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $95.88 million during the quarter, compared to analysts’ expectations of $80.45 million. Old Second Bancorp had a net margin of 18.89% and a return on equity of 13.10%. On average, equities analysts anticipate that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 31st were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, October 31st. Old Second Bancorp’s dividend payout ratio is 18.54%.

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.