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Victory Capital Management Inc. Sells 191,275 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Defense World ·  Jan 31, 2023 07:01

Victory Capital Management Inc. cut its holdings in Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Rating) by 39.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 290,004 shares of the financial services provider's stock after selling 191,275 shares during the period. Victory Capital Management Inc. owned 0.65% of Old Second Bancorp worth $3,785,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Banc Funds Co. LLC grew its position in Old Second Bancorp by 0.9% during the second quarter. Banc Funds Co. LLC now owns 2,178,694 shares of the financial services provider's stock worth $29,151,000 after buying an additional 20,000 shares in the last quarter. BlackRock Inc. grew its position in Old Second Bancorp by 9.0% during the first quarter. BlackRock Inc. now owns 2,173,725 shares of the financial services provider's stock worth $31,541,000 after buying an additional 179,424 shares in the last quarter. Vanguard Group Inc. grew its position in Old Second Bancorp by 42.3% during the first quarter. Vanguard Group Inc. now owns 1,925,199 shares of the financial services provider's stock worth $27,934,000 after buying an additional 572,257 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Old Second Bancorp by 0.3% during the first quarter. The Manufacturers Life Insurance Company now owns 1,075,355 shares of the financial services provider's stock worth $15,603,000 after buying an additional 2,969 shares in the last quarter. Finally, State Street Corp grew its position in Old Second Bancorp by 72.3% during the second quarter. State Street Corp now owns 1,001,589 shares of the financial services provider's stock worth $13,401,000 after buying an additional 420,215 shares in the last quarter. 65.85% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Raymond James lifted their target price on Old Second Bancorp from $18.50 to $20.00 and gave the stock a "strong-buy" rating in a research report on Friday, October 28th. TheStreet raised Old Second Bancorp from a "c+" rating to a "b" rating in a report on Friday, October 14th. StockNews.com began coverage on Old Second Bancorp in a report on Wednesday, October 12th. They set a "hold" rating on the stock. DA Davidson reaffirmed a "buy" rating on shares of Old Second Bancorp in a report on Wednesday, December 21st. Finally, Piper Sandler lifted their price objective on Old Second Bancorp to $21.00 in a report on Tuesday, November 1st.

Old Second Bancorp Stock Down 0.4 %

NASDAQ OSBC opened at $16.66 on Tuesday. The company has a market capitalization of $742.54 million, a price-to-earnings ratio of 11.18 and a beta of 1.13. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32. Old Second Bancorp, Inc. has a 1-year low of $12.89 and a 1-year high of $17.80. The stock's 50 day moving average is $16.53 and its two-hundred day moving average is $15.24.

Old Second Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 6th. Stockholders of record on Friday, January 27th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Thursday, January 26th. Old Second Bancorp's payout ratio is currently 13.42%.

Old Second Bancorp Company Profile

(Get Rating)

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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