Banc Funds Co. LLC Trims Position in Old Second Bancorp, Inc. $OSBC

Banc Funds Co. LLC reduced its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 13.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,006,378 shares of the financial services provider’s stock after selling 151,000 shares during the period. Old Second Bancorp accounts for about 3.0% of Banc Funds Co. LLC’s investment portfolio, making the stock its 2nd biggest position. Banc Funds Co. LLC’s holdings in Old Second Bancorp were worth $17,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in 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. Dimensional Fund Advisors LP raised its holdings in shares of Old Second Bancorp by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,204,884 shares of the financial services provider’s stock worth $38,111,000 after acquiring an additional 86,416 shares in the last quarter. FJ Capital Management LLC boosted its position in shares of Old Second Bancorp by 4.5% during the 3rd quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock valued at $33,186,000 after acquiring an additional 82,601 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Old Second Bancorp by 74.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after acquiring an additional 630,265 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Old Second Bancorp by 13.1% in the third quarter. American Century Companies Inc. now owns 1,387,891 shares of the financial services provider’s stock valued at $23,990,000 after purchasing an additional 160,429 shares in the last quarter. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Price Performance

NASDAQ:OSBC opened at $19.48 on Friday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 11.95 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day simple moving average of $20.20 and a 200-day simple moving average of $19.14. Old Second Bancorp, Inc. has a 1 year low of $14.14 and a 1 year high of $22.00.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share 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 firm had revenue of $95.20 million for the quarter, compared to the consensus estimate of $82.49 million. Equities analysts forecast that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Dividend Announcement

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

Analyst Ratings Changes

OSBC has been the topic of several research reports. DA Davidson boosted 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.63.

Insiders Place Their Bets

In other news, insider Darin Patrick Campbell sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total value of $732,900.00. Following the completion of the sale, the insider owned 274,589 shares in the company, valued at approximately $5,749,893.66. This trade represents a 11.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of Old Second Bancorp stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $20.98, for a total transaction of $41,960.00. Following the transaction, the executive vice president directly owned 24,874 shares of the company’s stock, valued at approximately $521,856.52. This represents a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,091 shares of company stock worth $776,744 in the last quarter. Company insiders own 3.80% of the company’s stock.

Old Second Bancorp Company 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.