Castine Capital Management LLC Buys 7,986 Shares of Old Second Bancorp Inc. (NASDAQ:OSBC)

Castine Capital Management LLC increased its stake in Old Second Bancorp Inc. (NASDAQ:OSBC) by 1.7% in the 1st quarter, HoldingsChannel reports. The fund owned 472,108 shares of the financial services provider’s stock after acquiring an additional 7,986 shares during the period. Old Second Bancorp accounts for approximately 1.8% of Castine Capital Management LLC’s holdings, making the stock its 26th largest holding. Castine Capital Management LLC’s holdings in Old Second Bancorp were worth $5,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan purchased a new position in shares of Old Second Bancorp during the fourth quarter valued at approximately $619,000. Cigna Investments Inc. New acquired a new position in shares of Old Second Bancorp in the fourth quarter worth about $134,000. Rhumbline Advisers raised its position in shares of Old Second Bancorp by 42.8% in the fourth quarter. Rhumbline Advisers now owns 41,112 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 12,325 shares during the period. Lodestar Investment Counsel LLC IL raised its position in shares of Old Second Bancorp by 5.8% in the first quarter. Lodestar Investment Counsel LLC IL now owns 18,200 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 1,000 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Old Second Bancorp by 1.3% in the third quarter. Vanguard Group Inc. now owns 1,244,642 shares of the financial services provider’s stock worth $19,230,000 after acquiring an additional 15,408 shares during the period. Institutional investors own 68.72% of the company’s stock.

In related news, EVP Keith Gottschalk sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $13.07, for a total transaction of $26,140.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.28% of the stock is owned by corporate insiders.

Shares of OSBC traded down $0.02 during mid-day trading on Friday, hitting $12.46. 38,536 shares of the company were exchanged, compared to its average volume of 48,493. Old Second Bancorp Inc. has a 1-year low of $11.32 and a 1-year high of $16.30. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The company has a market cap of $372.52 million, a PE ratio of 10.65, a price-to-earnings-growth ratio of 1.42 and a beta of 1.00.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). Old Second Bancorp had a return on equity of 15.76% and a net margin of 23.12%. The company had revenue of $30.52 million for the quarter, compared to analyst estimates of $32.23 million. As a group, sell-side analysts expect that Old Second Bancorp Inc. will post 1.26 earnings per share for the current year.

A number of research analysts have weighed in on the stock. BidaskClub downgraded shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 11th. Zacks Investment Research downgraded shares of Old Second Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. FIG Partners upgraded shares of Old Second Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, April 29th. Raymond James set a $15.00 price target on shares of Old Second Bancorp and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, ValuEngine downgraded shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Old Second Bancorp currently has a consensus rating of “Hold” and an average price target of $16.00.

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About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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Institutional Ownership by Quarter for Old Second Bancorp (NASDAQ:OSBC)

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