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

Sterling Capital Management LLC lowered its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 93.2% in the 1st quarter, according to its most recent 13F 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.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. River Street Advisors LLC increased its holdings in Old Second Bancorp by 104.0% during the 1st quarter. River Street Advisors LLC now owns 746,660 shares of the financial services provider’s stock valued at $15,053,000 after purchasing an additional 380,589 shares during the period. Assenagon Asset Management S.A. bought a new position in Old Second Bancorp in the 1st quarter worth $360,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Old Second Bancorp in the 4th quarter worth about $27,000. Hsbc Holdings PLC increased its position in shares of Old Second Bancorp by 135.2% during the fourth quarter. Hsbc Holdings PLC now owns 80,105 shares of the financial services provider’s stock valued at $1,561,000 after buying an additional 46,042 shares during the period. Finally, Invesco Ltd. raised its stake in Old Second Bancorp by 4.6% in the fourth quarter. Invesco Ltd. now owns 80,545 shares of the financial services provider’s stock worth $1,571,000 after buying an additional 3,544 shares in the last quarter. 67.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Old Second Bancorp Stock Performance

Shares of OSBC stock traded up $0.04 during trading hours on Friday, reaching $22.89. The company had a trading volume of 370,665 shares, compared to its average volume of 397,674. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. The business has a fifty day moving average price of $21.82 and a 200-day moving average price of $20.82. Old Second Bancorp, Inc. has a one year low of $16.42 and a one year 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.

Old Second Bancorp (NASDAQ:OSBC) last issued 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 net margin of 20.07% and a return on equity of 12.67%. The company had revenue of $93.77 million for the quarter, compared to the consensus estimate of $94.80 million. Sell-side analysts predict that Old Second Bancorp, Inc. will post 2.15 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

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

Old Second Bancorp Profile

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.