Truist Financial Corp trimmed its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Rating) by 58.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,745 shares of the financial services provider’s stock after selling 15,114 shares during the quarter. Truist Financial Corp’s holdings in Old Second Bancorp were worth $140,000 at the end of the most recent quarter.
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Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Old Second Bancorp in the 2nd quarter valued at about $48,000. Amalgamated Bank acquired a new stake in Old Second Bancorp in the 1st quarter valued at about $49,000. Rafferty Asset Management LLC acquired a new stake in Old Second Bancorp in the 2nd quarter valued at about $142,000. UBS Group AG raised its position in Old Second Bancorp by 140.8% in the 2nd quarter. UBS Group AG now owns 11,068 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 6,471 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Old Second Bancorp in the 2nd quarter valued at about $164,000. 65.85% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on OSBC. TheStreet raised Old Second Bancorp from a “c+” rating to a “b” rating in a research report on Friday, October 14th. Raymond James raised their target price on Old Second Bancorp from $18.50 to $20.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 28th. StockNews.com started coverage on Old Second Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Piper Sandler raised their target price on Old Second Bancorp to $21.00 in a research report on Tuesday, November 1st. Finally, DA Davidson reissued a “buy” rating on shares of Old Second Bancorp in a research report on Wednesday, December 21st.
Old Second Bancorp Trading Up 3.3 %
OSBC opened at $16.73 on Friday. The firm has a market cap of $745.66 million, a price-to-earnings ratio of 11.23 and a beta of 1.13. Old Second Bancorp, Inc. has a 52 week low of $12.89 and a 52 week high of $17.80. The business’s 50 day moving average is $16.55 and its two-hundred day moving average is $15.21. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.32.
Old Second Bancorp (NASDAQ:OSBC – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $67.07 million for the quarter, compared to analyst estimates of $60.37 million. Old Second Bancorp had a return on equity of 16.37% and a net margin of 25.96%. On average, research analysts predict that Old Second Bancorp, Inc. will post 2.02 EPS for the current year.
Old Second Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, February 6th. Shareholders of record on Friday, January 27th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, January 26th. Old Second Bancorp’s dividend payout ratio (DPR) is 13.42%.
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 provides demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. The company also offers 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.
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