Russell Investments Group Ltd. Sells 23,549 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Russell Investments Group Ltd. lessened its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC – Free Report) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 331,347 shares of the financial services provider’s stock after selling 23,549 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.74% of Old Second Bancorp worth $4,659,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SageView Advisory Group LLC bought a new position in shares of Old Second Bancorp during the 1st quarter worth approximately $322,000. ClariVest Asset Management LLC bought a new position in Old Second Bancorp in the 1st quarter valued at $507,000. Swiss National Bank grew its stake in Old Second Bancorp by 2.6% in the 4th quarter. Swiss National Bank now owns 86,000 shares of the financial services provider’s stock valued at $1,379,000 after purchasing an additional 2,200 shares during the period. Assenagon Asset Management S.A. grew its stake in Old Second Bancorp by 644.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 132,726 shares of the financial services provider’s stock valued at $1,866,000 after purchasing an additional 114,893 shares during the period. Finally, Hunter Perkins Capital Management LLC bought a new position in Old Second Bancorp in the 1st quarter valued at $436,000. Institutional investors own 65.84% of the company’s stock.

Old Second Bancorp Stock Performance

Shares of OSBC opened at $14.30 on Wednesday. The company has a market cap of $638.78 million, a PE ratio of 7.04 and a beta of 1.12. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $14.55 and a 200-day moving average price of $14.17. Old Second Bancorp, Inc. has a 12-month low of $10.79 and a 12-month high of $17.80.

Old Second Bancorp (NASDAQ:OSBC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The firm had revenue of $71.80 million for the quarter, compared to analyst estimates of $74.03 million. Old Second Bancorp had a net margin of 30.18% and a return on equity of 19.45%. As a group, equities analysts forecast that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Friday, July 28th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.40%. The ex-dividend date was Thursday, July 27th. Old Second Bancorp’s dividend payout ratio (DPR) is currently 9.85%.

Analyst Upgrades and Downgrades

OSBC has been the topic of several research reports. StockNews.com initiated coverage on shares of Old Second Bancorp in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Stephens reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Old Second Bancorp in a research report on Thursday, July 20th. Piper Sandler increased their price objective on Old Second Bancorp from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, July 21st. Finally, Raymond James increased their price objective on Old Second Bancorp from $17.00 to $19.00 and gave the company a “strong-buy” rating in a report on Friday, July 21st. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Old Second Bancorp presently has an average rating of “Buy” and an average price target of $18.67.

Read Our Latest Analysis on OSBC

Old Second Bancorp Company Profile

(Free Report)

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.

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