Old Second Bancorp, Inc. $OSBC Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC reduced its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 4.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 97,520 shares of the financial services provider’s stock after selling 4,100 shares during the period. Brandywine Global Investment Management LLC’s holdings in Old Second Bancorp were worth $1,730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strs Ohio acquired a new position in shares of Old Second Bancorp in the first quarter worth about $88,000. Quarry LP increased its holdings in Old Second Bancorp by 145.5% during the 1st quarter. Quarry LP now owns 5,802 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 3,439 shares during the last quarter. EMC Capital Management acquired a new position in shares of Old Second Bancorp in the 2nd quarter valued at approximately $150,000. Quantbot Technologies LP boosted its stake in shares of Old Second Bancorp by 50.4% during the 1st quarter. Quantbot Technologies LP now owns 11,322 shares of the financial services provider’s stock valued at $188,000 after buying an additional 3,794 shares during the last quarter. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Old Second Bancorp during the first quarter worth approximately $193,000. 67.76% of the stock is owned by hedge funds and other institutional investors.

Old Second Bancorp Trading Down 0.5%

Old Second Bancorp stock opened at $18.42 on Tuesday. Old Second Bancorp, Inc. has a 1 year low of $14.14 and a 1 year high of $19.46. The firm’s 50-day moving average is $17.87 and its 200-day moving average is $17.70. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $970.16 million, a P/E ratio of 12.20 and a beta of 0.86.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. Old Second Bancorp had a net margin of 18.89% and a return on equity of 13.10%. The business had revenue of $95.88 million during the quarter, compared to the consensus estimate of $80.45 million. On average, equities analysts expect that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 31st were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, October 31st. Old Second Bancorp’s dividend payout ratio is presently 18.54%.

Analyst Ratings Changes

Several research firms recently issued reports on OSBC. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old Second Bancorp in a report on Wednesday, October 8th. Wall Street Zen raised shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $21.63.

Insider Activity

In related news, insider Darin Patrick Campbell sold 31,159 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $17.89, for a total transaction of $557,434.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.80% of the company’s stock.

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.