Wellington Management Group LLP Sells 313,440 Shares of Old Second Bancorp, Inc. $OSBC

Wellington Management Group LLP decreased its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 36.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 544,345 shares of the financial services provider’s stock after selling 313,440 shares during the period. Wellington Management Group LLP’s holdings in Old Second Bancorp were worth $12,694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of OSBC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Old Second Bancorp by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 1,067 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after purchasing an additional 630,265 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Old Second Bancorp by 38.7% in the first quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider’s stock valued at $2,794,000 after purchasing an additional 46,890 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Old Second Bancorp in the first quarter worth $1,378,000. Finally, Strs Ohio bought a new stake in shares of Old Second Bancorp in the first quarter worth $88,000. 67.76% of the stock is owned by institutional investors and hedge funds.

Old Second Bancorp Price Performance

NASDAQ:OSBC opened at $25.72 on Tuesday. Old Second Bancorp, Inc. has a 1-year low of $16.65 and a 1-year high of $26.06. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $24.64 and a 200 day simple moving average of $22.19. The stock has a market capitalization of $1.31 billion, a PE ratio of 14.78 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. On average, research analysts expect that Old Second Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 31st were paid a dividend of $0.07 per share. The ex-dividend date was Friday, July 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. Old Second Bancorp’s payout ratio is currently 16.09%.

Insider Transactions at Old Second Bancorp

In other news, insider Darin Patrick Campbell sold 24,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $25.53, for a total value of $612,720.00. Following the sale, the insider directly owned 250,589 shares of the company’s stock, valued at approximately $6,397,537.17. This represents a 8.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Eccher sold 55,687 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $25.46, for a total transaction of $1,417,791.02. Following the completion of the sale, the chief executive officer owned 322,712 shares of the company’s stock, valued at $8,216,247.52. This trade represents a 14.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 124,000 shares of company stock worth $3,168,367 in the last ninety days. Insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OSBC. Raymond James Financial started coverage on shares of Old Second Bancorp in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 target price for the company. Zacks Research cut shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Wednesday, August 26th. DA Davidson raised their price objective on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.40.

Old Second Bancorp Profile

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.