Sterling Capital Management LLC Trims Stock Position in Old Second Bancorp, Inc. $OSBC

Sterling Capital Management LLC lessened its holdings in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 93.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,671 shares of the financial services provider’s stock after selling 23,056 shares during the period. Sterling Capital Management LLC’s holdings in Old Second Bancorp were worth $34,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Stieven Capital Advisors L.P. raised its position in Old Second Bancorp by 8.5% in the third quarter. Stieven Capital Advisors L.P. now owns 778,028 shares of the financial services provider’s stock worth $13,448,000 after acquiring an additional 61,000 shares during the period. UBS Group AG grew its position in shares of Old Second Bancorp by 295.2% during the 4th quarter. UBS Group AG now owns 177,102 shares of the financial services provider’s stock valued at $3,453,000 after acquiring an additional 132,290 shares during the period. Davis Asset Management L.P. increased its stake in shares of Old Second Bancorp by 16.4% in the 4th quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider’s stock worth $34,038,000 after purchasing an additional 245,523 shares in the last quarter. River Street Advisors LLC increased its stake in shares of Old Second Bancorp by 104.0% in the 1st quarter. River Street Advisors LLC now owns 746,660 shares of the financial services provider’s stock worth $15,053,000 after purchasing an additional 380,589 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in Old Second Bancorp by 15.9% in the 4th quarter. Kennedy Capital Management LLC now owns 1,267,042 shares of the financial services provider’s stock worth $24,707,000 after purchasing an additional 173,724 shares during the period. 67.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on OSBC. Piper Sandler boosted their price target on Old Second Bancorp from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Stephens began coverage on Old Second Bancorp in a research note on Friday, March 27th. They issued an “overweight” rating and a $23.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Finally, Raymond James Financial assumed coverage on Old Second Bancorp in a research note on Tuesday. They set an “outperform” rating and a $26.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Old Second Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $24.20.

Old Second Bancorp Price Performance

NASDAQ:OSBC traded up $0.04 on Friday, reaching $22.89. 370,665 shares of the company’s stock traded hands, compared to its average volume of 397,674. The stock has a 50-day simple moving average of $21.82 and a 200-day simple moving average of $20.82. Old Second Bancorp, Inc. has a 12 month low of $16.42 and a 12 month high of $23.95. The firm has a market cap of $1.18 billion, a PE ratio of 13.62 and a beta of 0.70. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%.The business had revenue of $93.77 million during the quarter, compared to the consensus estimate of $94.80 million. Equities research analysts forecast that Old Second Bancorp, Inc. will post 2.15 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, May 1st. Old Second Bancorp’s dividend payout ratio is presently 16.67%.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.