Wellington Management Group LLP Sells 313,440 Shares of Old Second Bancorp, Inc. $OSBC

Wellington Management Group LLP decreased its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBCFree Report) by 36.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 544,345 shares of the financial services provider’s stock after selling 313,440 shares during the period. Wellington Management Group LLP owned about 1.07% of Old Second Bancorp worth $12,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Old Second Bancorp during the 2nd quarter valued at $100,245,000. Vanguard Group Inc. increased its stake in shares of Old Second Bancorp by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider’s stock valued at $63,929,000 after buying an additional 8,395 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Old Second Bancorp by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider’s stock valued at $48,159,000 after buying an additional 127,988 shares during the last quarter. FJ Capital Management LLC raised its holdings in shares of Old Second Bancorp by 4.5% in the third quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock valued at $33,186,000 after buying an additional 82,601 shares during the last quarter. Finally, Davis Asset Management L.P. acquired a new position in Old Second Bancorp during the 2nd quarter worth about $41,976,000. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Performance

Shares of NASDAQ:OSBC opened at $25.72 on Tuesday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 14.78 and a beta of 0.70. The firm’s 50 day simple moving average is $24.64 and its 200 day simple moving average is $22.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. Old Second Bancorp, Inc. has a fifty-two week low of $16.65 and a fifty-two week high of $26.06.

Old Second Bancorp (NASDAQ:OSBCGet Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. As a group, sell-side analysts forecast that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Friday, July 31st were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, July 31st. Old Second Bancorp’s dividend payout ratio (DPR) is presently 16.09%.

Analysts Set New Price Targets

OSBC has been the topic of a number of research analyst reports. Zacks Research lowered shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. DA Davidson increased their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Piper Sandler reissued an “overweight” rating and issued a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. Finally, Raymond James Financial initiated coverage on shares of Old Second Bancorp in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Old Second Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $25.40.

Read Our Latest Stock Analysis on OSBC

Insiders Place Their Bets

In other Old Second Bancorp news, Director Hugh H. Mclean sold 25,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $25.73, for a total value of $643,250.00. Following the completion of the sale, the director directly owned 135,351 shares in the company, valued at $3,482,581.23. This represents a 15.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darin Patrick Campbell sold 24,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $25.53, for a total value of $612,720.00. Following the sale, the insider directly owned 250,589 shares in the company, valued at approximately $6,397,537.17. This represents a 8.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 124,000 shares of company stock worth $3,168,367. Corporate insiders own 3.60% of the company’s stock.

Old Second Bancorp Profile

(Free Report)

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.

Further Reading

Institutional Ownership by Quarter for Old Second Bancorp (NASDAQ:OSBC)

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