Public Employees Retirement Association of Colorado Lowers Stake in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Public Employees Retirement Association of Colorado decreased its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 6.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,638 shares of the financial services provider’s stock after selling 1,305 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Old Second Bancorp were worth $276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Old Second Bancorp by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock valued at $33,548,000 after buying an additional 45,955 shares in the last quarter. Banc Funds Co. LLC grew its position in Old Second Bancorp by 3.7% in the 4th quarter. Banc Funds Co. LLC now owns 2,126,262 shares of the financial services provider’s stock valued at $32,829,000 after acquiring an additional 74,952 shares in the last quarter. Boston Partners increased its stake in Old Second Bancorp by 300.6% during the first quarter. Boston Partners now owns 55,735 shares of the financial services provider’s stock worth $771,000 after purchasing an additional 41,821 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Old Second Bancorp during the second quarter worth about $260,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Old Second Bancorp by 9.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,061,824 shares of the financial services provider’s stock valued at $16,395,000 after purchasing an additional 91,442 shares during the period. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Up 0.3 %

Shares of NASDAQ:OSBC opened at $15.42 on Friday. Old Second Bancorp, Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $17.46. The firm’s 50 day moving average price is $16.29 and its 200 day moving average price is $14.93. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a market cap of $691.53 million, a price-to-earnings ratio of 7.83 and a beta of 1.07.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $70.82 million during the quarter, compared to analyst estimates of $70.03 million. Old Second Bancorp had a net margin of 25.62% and a return on equity of 14.83%. As a group, equities research analysts predict that Old Second Bancorp, Inc. will post 1.91 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 26th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Friday, July 26th. Old Second Bancorp’s dividend payout ratio (DPR) is 10.15%.

Wall Street Analyst Weigh In

OSBC has been the topic of several recent research reports. Raymond James downgraded shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $19.00 to $18.00 in a research note on Tuesday, September 17th. Piper Sandler boosted their price target on shares of Old Second Bancorp from $18.00 to $19.50 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, DA Davidson cut Old Second Bancorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $19.00 to $17.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.88.

Insider Transactions at Old Second Bancorp

In other news, Director John Ladowicz sold 30,585 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $16.22, for a total transaction of $496,088.70. Following the sale, the director now owns 189,192 shares of the company’s stock, valued at approximately $3,068,694.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.80% of the company’s stock.

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.