Assenagon Asset Management S.A. Sells 185,093 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Assenagon Asset Management S.A. decreased its position in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 50.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,580 shares of the financial services provider's stock after selling 185,093 shares during the quarter. Assenagon Asset Management S.A. owned 0.40% of Old Second Bancorp worth $2,988,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Old Second Bancorp by 3.0% in the 4th quarter. Rhumbline Advisers now owns 71,545 shares of the financial services provider's stock valued at $1,272,000 after purchasing an additional 2,099 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Old Second Bancorp by 9.6% in the 4th quarter. Principal Financial Group Inc. now owns 35,325 shares of the financial services provider's stock valued at $628,000 after purchasing an additional 3,082 shares in the last quarter. New York State Common Retirement Fund boosted its position in Old Second Bancorp by 15.1% during the fourth quarter. New York State Common Retirement Fund now owns 11,466 shares of the financial services provider's stock worth $204,000 after purchasing an additional 1,500 shares in the last quarter. Ieq Capital LLC acquired a new stake in Old Second Bancorp in the 4th quarter valued at about $230,000. Finally, Hudson Edge Investment Partners Inc. lifted its stake in Old Second Bancorp by 17.2% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 42,633 shares of the financial services provider's stock valued at $758,000 after buying an additional 6,271 shares in the last quarter. 67.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OSBC has been the topic of several research reports. Keefe, Bruyette & Woods cut their price target on shares of Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Stephens decreased their target price on Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $20.10.

Old Second Bancorp Stock Performance

Shares of NASDAQ:OSBC traded up $0.03 on Friday, hitting $16.72. 132,717 shares of the company were exchanged, compared to its average volume of 257,021. Old Second Bancorp, Inc. has a one year low of $13.71 and a one year high of $19.46. The firm has a market capitalization of $753.38 million, a price-to-earnings ratio of 9.15 and a beta of 0.81. The company's 50 day moving average price is $16.29 and its two-hundred day moving average price is $17.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). Old Second Bancorp had a net margin of 24.52% and a return on equity of 12.87%. The firm had revenue of $73.57 million for the quarter, compared to the consensus estimate of $60.00 million. Research analysts expect that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, April 25th. Old Second Bancorp's dividend payout ratio (DPR) is presently 13.11%.

About Old Second Bancorp

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.