Banc Funds Co. LLC Has $27.35 Million Position in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Banc Funds Co. LLC reduced its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 11.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,754,288 shares of the financial services provider’s stock after selling 221,400 shares during the quarter. Old Second Bancorp comprises about 3.0% of Banc Funds Co. LLC’s portfolio, making the stock its 2nd biggest position. Banc Funds Co. LLC owned approximately 3.91% of Old Second Bancorp worth $27,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Old Second Bancorp during the second quarter valued at about $33,000. Innealta Capital LLC acquired a new position in Old Second Bancorp during the 2nd quarter valued at about $49,000. Quantbot Technologies LP increased its holdings in Old Second Bancorp by 134.0% during the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 3,587 shares in the last quarter. CWM LLC raised its stake in shares of Old Second Bancorp by 36.3% in the third 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 last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Old Second Bancorp in the third quarter valued at approximately $158,000. Institutional investors own 67.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

Old Second Bancorp Stock Down 0.7 %

Old Second Bancorp stock opened at $18.60 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $834.21 million, a P/E ratio of 10.05 and a beta of 1.06. The firm has a 50 day moving average price of $16.86 and a 200-day moving average price of $15.95. Old Second Bancorp, Inc. has a twelve month low of $13.00 and a twelve month high of $19.37.

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

Old Second Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were paid a dividend of $0.06 per share. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, October 25th. This represents a $0.24 annualized dividend and a yield of 1.29%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 12.97%.

Old Second Bancorp Company 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.