The Manufacturers Life Insurance Company lowered its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Rating) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,044,131 shares of the financial services provider's stock after selling 22,183 shares during the period. The Manufacturers Life Insurance Company owned approximately 2.34% of Old Second Bancorp worth $13,626,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in OSBC. Dorsey Wright & Associates bought a new position in Old Second Bancorp in the second quarter worth approximately $41,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Old Second Bancorp in the second quarter worth approximately $48,000. Amalgamated Bank bought a new position in Old Second Bancorp in the first quarter worth approximately $49,000. Rafferty Asset Management LLC bought a new position in Old Second Bancorp in the second quarter worth approximately $142,000. Finally, CWM LLC boosted its holdings in Old Second Bancorp by 4,238.3% in the third quarter. CWM LLC now owns 11,323 shares of the financial services provider's stock worth $148,000 after acquiring an additional 11,062 shares in the last quarter. Institutional investors and hedge funds own 65.85% of the company's stock.
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Shares of OSBC opened at $16.20 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $722.10 million, a price-to-earnings ratio of 22.82 and a beta of 1.13. The stock has a 50 day moving average of $16.57 and a 200 day moving average of $15.19. Old Second Bancorp, Inc. has a 12 month low of $12.89 and a 12 month high of $17.80.
Old Second Bancorp (NASDAQ:OSBC – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The company had revenue of $67.07 million during the quarter, compared to the consensus estimate of $60.37 million. Old Second Bancorp had a return on equity of 13.40% and a net margin of 15.47%. As a group, sell-side analysts forecast that Old Second Bancorp, Inc. will post 1.57 earnings per share for the current year.Old Second Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 6th. Investors of record on Friday, January 27th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, January 26th. Old Second Bancorp's payout ratio is 28.17%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. StockNews.com assumed coverage on Old Second Bancorp in a report on Wednesday, October 12th. They issued a "hold" rating on the stock. Piper Sandler raised their target price on Old Second Bancorp to $21.00 in a report on Tuesday, November 1st. TheStreet upgraded Old Second Bancorp from a "c+" rating to a "b" rating in a report on Friday, October 14th. Raymond James raised their target price on Old Second Bancorp from $18.50 to $20.00 and gave the company a "strong-buy" rating in a report on Friday, October 28th. Finally, DA Davidson restated a "buy" rating on shares of Old Second Bancorp in a report on Wednesday, December 21st.
About Old Second Bancorp
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Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It provides demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. The company also offers 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.
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