24,100 Shares of Old Second Bancorp, Inc. $OSBC Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Old Second Bancorp, Inc. (NASDAQ:OSBC) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 24,100 shares of the financial services provider’s stock, valued at approximately $590,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lakewood Asset Management LLC lifted its position in Old Second Bancorp by 5.4% during the third quarter. Lakewood Asset Management LLC now owns 24,185 shares of the financial services provider’s stock valued at $592,000 after purchasing an additional 1,230 shares during the last quarter. Integrated Advisors Network LLC bought a new position in shares of Old Second Bancorp in the 3rd quarter worth $553,000. USA Financial Formulas purchased a new stake in shares of Old Second Bancorp during the 3rd quarter valued at $73,000. Forum Financial Management LP raised its position in shares of Old Second Bancorp by 15.4% during the 3rd quarter. Forum Financial Management LP now owns 237,367 shares of the financial services provider’s stock valued at $5,813,000 after buying an additional 31,694 shares in the last quarter. Finally, Congress Asset Management Co. raised its position in shares of Old Second Bancorp by 21.4% during the 3rd quarter. Congress Asset Management Co. now owns 411,201 shares of the financial services provider’s stock valued at $10,070,000 after buying an additional 72,551 shares in the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO James Eccher sold 19,313 shares of Old Second Bancorp stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $25.61, for a total value of $494,605.93. Following the transaction, the chief executive officer owned 303,399 shares in the company, valued at $7,770,048.39. This trade represents a 5.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 on Tuesday, September 8th. The stock was sold at an average price of $25.63, for a total transaction of $640,750.00. Following the completion of the sale, the director directly owned 135,351 shares of the company’s stock, valued at $3,469,046.13. This represents a 15.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 149,000 shares of company stock valued at $3,809,117. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James Financial raised shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $27.00 to $30.00 in a report on Tuesday, October 6th. Weiss Ratings raised Old Second Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, October 21st. Zacks Research downgraded Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. DA Davidson raised their price target on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Piper Sandler dropped their price target on Old Second Bancorp from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.75.

Old Second Bancorp Price Performance

OSBC traded up $0.05 during midday trading on Friday, hitting $24.40. The stock had a trading volume of 559,624 shares, compared to its average volume of 624,923. The company has a market cap of $1.24 billion, a P/E ratio of 11.51 and a beta of 0.78. The business has a fifty day moving average of $24.92 and a 200 day moving average of $22.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. Old Second Bancorp, Inc. has a 1 year low of $17.61 and a 1 year high of $26.06.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). The business had revenue of $97.12 million for the quarter, compared to the consensus estimate of $98.22 million. Old Second Bancorp had a net margin of 24.50% and a return on equity of 12.69%. As a group, equities analysts forecast that Old Second Bancorp, Inc. will post 2.18 earnings per share for the current fiscal year.

Old Second Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Friday, October 30th will be paid a $0.08 dividend. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.3%. Old Second Bancorp’s dividend payout ratio is currently 15.09%.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides banking and financial services to individuals, families, businesses and governmental entities.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and cash-management services. The bank also provides wealth management, trust and investment-related services through its financial services operations.

Founded in 1871, Old Second has a long history of serving communities in northern Illinois, including the Fox Valley and Chicago metropolitan area.