Old Second Bancorp, Inc. $OSBC is Banc Funds Co. LLC’s 2nd Largest Position

Banc Funds Co. LLC reduced its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 13.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,006,378 shares of the financial services provider’s stock after selling 151,000 shares during the quarter. Old Second Bancorp makes up approximately 3.0% of Banc Funds Co. LLC’s investment portfolio, making the stock its 2nd biggest position. Banc Funds Co. LLC owned approximately 1.91% of Old Second Bancorp worth $17,395,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock worth $24,599,000 after buying an additional 630,265 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Old Second Bancorp by 20.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock valued at $56,522,000 after buying an additional 553,169 shares in the last quarter. Kennedy Capital Management LLC lifted its position in shares of Old Second Bancorp by 93.3% during the 2nd quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider’s stock valued at $17,687,000 after buying an additional 481,302 shares in the last quarter. River Street Advisors LLC bought a new position in shares of Old Second Bancorp during the 3rd quarter valued at approximately $6,637,000. Finally, Davis Asset Management L.P. grew its stake in shares of Old Second Bancorp by 25.9% during the 2nd quarter. Davis Asset Management L.P. now owns 1,384,502 shares of the financial services provider’s stock valued at $24,561,000 after acquiring an additional 284,502 shares during the period. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Old Second Bancorp

In other news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of Old Second Bancorp stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $20.98, for a total transaction of $41,960.00. Following the sale, the executive vice president owned 24,874 shares in the company, valued at $521,856.52. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Darin Patrick Campbell sold 35,000 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total transaction of $732,900.00. Following the transaction, the insider owned 274,589 shares of the company’s stock, valued at approximately $5,749,893.66. This represents a 11.31% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 37,091 shares of company stock worth $776,744. Company insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

OSBC has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Thursday, January 22nd. DA Davidson upped their price target on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Old Second Bancorp presently has an average rating of “Moderate Buy” and an average price target of $22.63.

Old Second Bancorp Stock Performance

NASDAQ OSBC opened at $19.48 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.11. Old Second Bancorp, Inc. has a twelve month low of $14.14 and a twelve month high of $22.00. The business has a 50-day moving average price of $20.20 and a 200-day moving average price of $19.14. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 11.95 and a beta of 0.79.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%.The company had revenue of $95.20 million for the quarter, compared to the consensus estimate of $82.49 million. As a group, equities research analysts predict that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Friday, January 30th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, January 30th. Old Second Bancorp’s dividend payout ratio (DPR) is 17.18%.

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.