Old Second Bancorp, Inc. (NASDAQ:OSBC) Shares Sold by Forum Financial Management LP

Forum Financial Management LP cut its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 54.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,234,213 shares of the financial services provider’s stock after selling 1,464,782 shares during the quarter. Old Second Bancorp makes up 0.3% of Forum Financial Management LP’s investment portfolio, making the stock its 23rd biggest holding. Forum Financial Management LP owned about 2.75% of Old Second Bancorp worth $19,241,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Old Second Bancorp by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock valued at $33,548,000 after acquiring an additional 45,955 shares during the period. Boston Partners boosted its stake in shares of Old Second Bancorp by 300.6% during the first quarter. Boston Partners now owns 55,735 shares of the financial services provider’s stock worth $771,000 after buying an additional 41,821 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in Old Second Bancorp in the 2nd quarter valued at about $759,000. SG Americas Securities LLC acquired a new stake in Old Second Bancorp during the 2nd quarter worth approximately $260,000. Finally, AQR Capital Management LLC increased its holdings in shares of Old Second Bancorp by 20.1% in the second quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider’s stock valued at $4,561,000 after purchasing an additional 51,652 shares during the period. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Stock Down 0.1 %

OSBC opened at $16.40 on Monday. Old Second Bancorp, Inc. has a one year low of $13.00 and a one year high of $17.46. The company has a market cap of $735.54 million, a price-to-earnings ratio of 8.86 and a beta of 1.06. The business’s fifty day moving average is $16.22 and its two-hundred day moving average is $15.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

Old Second Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.46%. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, October 25th. Old Second Bancorp’s dividend payout ratio is presently 12.97%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. DA Davidson set a $18.00 price objective on shares of Old Second Bancorp in a research report on Thursday, October 17th. Raymond James cut shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $19.00 to $18.00 in a research note on Tuesday, September 17th. Finally, Piper Sandler boosted their price objective on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a report on Friday, October 18th.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.