Los Angeles Capital Management LLC Cuts Stake in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Los Angeles Capital Management LLC trimmed its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 10.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,259 shares of the financial services provider’s stock after selling 6,500 shares during the quarter. Los Angeles Capital Management LLC owned about 0.12% of Old Second Bancorp worth $846,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of Old Second Bancorp during the 2nd quarter valued at $33,000. Innealta Capital LLC purchased a new stake in Old Second Bancorp during the second quarter valued at about $49,000. Ameritas Investment Partners Inc. increased its stake in Old Second Bancorp by 19.8% during the first quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 853 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Old Second Bancorp in the 1st quarter valued at about $90,000. Finally, CWM LLC grew its holdings in shares of Old Second Bancorp by 36.3% during the 3rd quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 2,123 shares during the period. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Stock Down 0.8 %

Shares of NASDAQ:OSBC opened at $18.46 on Friday. The company has a market capitalization of $827.93 million, a price-to-earnings ratio of 9.98 and a beta of 1.06. The company has a 50 day moving average of $16.42 and a two-hundred day moving average of $15.59. Old Second Bancorp, Inc. has a 52-week low of $13.00 and a 52-week high of $18.86. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

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

Old Second Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.30%. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, October 25th. Old Second Bancorp’s payout ratio is presently 12.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OSBC shares. DA Davidson set a $18.00 price target on shares of Old Second Bancorp in a report on Thursday, October 17th. Raymond James downgraded shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th. Finally, Piper Sandler upped their price target on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th.

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.