Old Second Bancorp, Inc. $OSBC Stock Acquired by Forum Financial Management LP

Forum Financial Management LP increased its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 15.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,367 shares of the financial services provider’s stock after purchasing an additional 31,694 shares during the quarter. Forum Financial Management LP owned 0.47% of Old Second Bancorp worth $5,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. acquired a new position in Old Second Bancorp in the 4th quarter worth $27,000. Integrated Wealth Concepts LLC purchased a new position in Old Second Bancorp in the 2nd quarter valued at about $44,000. Parallel Advisors LLC boosted its position in Old Second Bancorp by 181.3% in the 1st quarter. Parallel Advisors LLC now owns 2,622 shares of the financial services provider’s stock valued at $53,000 after buying an additional 1,690 shares during the last quarter. NewEdge Advisors LLC purchased a new position in Old Second Bancorp in the 2nd quarter valued at about $202,000. Finally, Amundi acquired a new stake in shares of Old Second Bancorp during the first quarter valued at about $276,000. 67.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Raymond James Financial upgraded Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $27.00 to $30.00 in a research note on Tuesday, October 6th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Wednesday, August 26th. Zacks Research downgraded Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Finally, DA Davidson raised their price objective on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.20.

Old Second Bancorp Stock Up 0.1%

Shares of NASDAQ:OSBC opened at $24.88 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of 11.56 and a beta of 0.77. The company has a fifty day simple moving average of $25.15 and a 200 day simple moving average of $23.22. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. Old Second Bancorp, Inc. has a 12-month low of $16.88 and a 12-month high of $26.06.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. On average, equities research analysts anticipate that Old Second Bancorp, Inc. will post 2.22 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 31st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, July 31st. Old Second Bancorp’s dividend payout ratio is 16.09%.

Insider Transactions at Old Second Bancorp

In related news, CEO James Eccher sold 55,687 shares of Old Second Bancorp stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $25.46, for a total value of $1,417,791.02. Following the completion of the transaction, the chief executive officer directly owned 322,712 shares in the company, valued at approximately $8,216,247.52. This trade represents a 14.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hugh H. Mclean sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $25.73, for a total value of $643,250.00. Following the completion of the sale, the director directly owned 135,351 shares of the company’s stock, valued at approximately $3,482,581.23. This represents a 15.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 149,000 shares of company stock valued at $3,809,117. Insiders own 3.60% of the company’s stock.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc (NASDAQ: OSBC) is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides community banking services to individuals, families, businesses and institutions.

The bank offers a range of financial products and services, including commercial and residential real estate lending, business and consumer loans, checking and savings accounts, certificates of deposit, treasury management and online and mobile banking.