Adams Diversified Equity Fund Inc. lessened its stake in shares of Old Second Bancorp Inc. (NASDAQ:OSBC) by 6.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,100 shares of the financial services provider’s stock after selling 4,100 shares during the period. Adams Diversified Equity Fund Inc. owned about 0.19% of Old Second Bancorp worth $867,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of OSBC. HRT Financial LLC purchased a new stake in Old Second Bancorp during the second quarter worth about $173,000. Hartford Investment Management Co. purchased a new stake in Old Second Bancorp during the second quarter worth about $183,000. Atria Investments LLC purchased a new stake in Old Second Bancorp during the third quarter worth about $285,000. Bank of America Corp DE increased its holdings in Old Second Bancorp by 208.4% during the second quarter. Bank of America Corp DE now owns 22,739 shares of the financial services provider’s stock worth $327,000 after buying an additional 15,365 shares during the last quarter. Finally, First Quadrant L P CA increased its holdings in Old Second Bancorp by 480.1% during the third quarter. First Quadrant L P CA now owns 22,327 shares of the financial services provider’s stock worth $345,000 after buying an additional 18,478 shares during the last quarter. Institutional investors and hedge funds own 69.98% of the company’s stock.
OSBC has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Sandler O’Neill reiterated a “buy” rating and issued a $18.00 target price on shares of Old Second Bancorp in a research note on Friday, July 27th. Finally, BidaskClub downgraded shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 13th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Old Second Bancorp currently has an average rating of “Buy” and a consensus price target of $17.50.
Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, October 24th. The financial services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $31.55 million during the quarter, compared to the consensus estimate of $32.15 million. Old Second Bancorp had a net margin of 17.04% and a return on equity of 16.32%. On average, equities research analysts anticipate that Old Second Bancorp Inc. will post 1.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 5th. Stockholders of record on Friday, October 26th will be paid a $0.01 dividend. The ex-dividend date is Thursday, October 25th. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. Old Second Bancorp’s payout ratio is 4.94%.
Old Second Bancorp Profile
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank that provides a range of banking services. The company accepts demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers revolving lines of credit for working capital; lending for capital expenditures on manufacturing equipment; lending to small business manufactures, service companies, medical and dental entities, and specialty contractors; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage loans, second mortgage loans, and home equity line of credit mortgages; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans, as well as student loans; and overdraft checking.
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