Russell Investments Group Ltd. Decreases Stock Holdings in Old Second Bancorp Inc. (NASDAQ:OSBC)

Russell Investments Group Ltd. reduced its stake in shares of Old Second Bancorp Inc. (NASDAQ:OSBC) by 11.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 706,360 shares of the financial services provider’s stock after selling 90,411 shares during the quarter. Russell Investments Group Ltd. owned approximately 2.36% of Old Second Bancorp worth $8,633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Maltese Capital Management LLC lifted its stake in shares of Old Second Bancorp by 16.9% during the 2nd quarter. Maltese Capital Management LLC now owns 693,802 shares of the financial services provider’s stock worth $8,860,000 after purchasing an additional 100,502 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Old Second Bancorp by 8.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,993 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 1,600 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Old Second Bancorp by 2.9% during the 2nd quarter. Northern Trust Corp now owns 362,210 shares of the financial services provider’s stock worth $4,625,000 after purchasing an additional 10,296 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Old Second Bancorp during the 2nd quarter valued at about $3,084,000. Finally, Acadian Asset Management LLC increased its position in Old Second Bancorp by 18.4% during the 2nd quarter. Acadian Asset Management LLC now owns 43,004 shares of the financial services provider’s stock valued at $549,000 after buying an additional 6,673 shares in the last quarter. Hedge funds and other institutional investors own 69.30% of the company’s stock.

Shares of OSBC stock opened at $12.47 on Friday. The stock’s 50-day simple moving average is $12.24 and its 200-day simple moving average is $12.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $375.29 million, a PE ratio of 11.13 and a beta of 1.03. Old Second Bancorp Inc. has a fifty-two week low of $11.24 and a fifty-two week high of $15.01.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The business had revenue of $36.71 million for the quarter, compared to analyst estimates of $33.15 million. Old Second Bancorp had a return on equity of 15.42% and a net margin of 25.69%. Sell-side analysts forecast that Old Second Bancorp Inc. will post 1.29 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Thursday, October 24th. Old Second Bancorp’s dividend payout ratio is presently 3.57%.

Several brokerages recently issued reports on OSBC. Zacks Investment Research raised Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. ValuEngine raised Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Raymond James set a $14.00 price objective on Old Second Bancorp and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, BidaskClub lowered Old Second Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Old Second Bancorp presently has an average rating of “Hold” and an average target price of $14.00.

Old Second Bancorp Company Profile

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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