31,694 Old Second Bancorp, Inc. $OSBC Shares Purchased by Forum Financial Management LP

Forum Financial Management LP raised its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 15.4% in the 3rd quarter, Holdings Channel reports. 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’s holdings in Old Second Bancorp were worth $5,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Old Second Bancorp during the second quarter worth $100,245,000. Davis Asset Management L.P. bought a new position in shares of Old Second Bancorp in the 2nd quarter worth about $41,976,000. The Manufacturers Life Insurance Company bought a new position in shares of Old Second Bancorp in the 2nd quarter worth about $20,350,000. River Street Advisors LLC lifted its position in shares of Old Second Bancorp by 104.0% in the 1st quarter. River Street Advisors LLC now owns 746,660 shares of the financial services provider’s stock worth $15,053,000 after buying an additional 380,589 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Old Second Bancorp in the 2nd quarter valued at about $8,690,000. Institutional investors own 67.76% of the company’s stock.

Insider Activity

In related news, Director Hugh H. Mclean sold 25,000 shares of the 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 sale, the director owned 135,351 shares of the company’s stock, valued at $3,482,581.23. This trade represents a 15.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Eccher sold 55,687 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $25.46, for a total transaction of $1,417,791.02. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 149,000 shares of company stock valued at $3,809,117. 3.60% of the stock is currently owned by company insiders.

Old Second Bancorp Trading Up 0.1%

NASDAQ:OSBC opened at $24.88 on Friday. The firm has a market capitalization of $1.27 billion, a P/E ratio of 11.56 and a beta of 0.77. The business has a 50 day simple moving average of $25.15 and a 200 day simple moving average of $23.22. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. 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 issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. Equities research analysts predict that Old Second Bancorp, Inc. will post 2.22 EPS for the current year.

Old Second Bancorp Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.