Bank of New York Mellon Corp Trims Position in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Bank of New York Mellon Corp trimmed its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 333,057 shares of the financial services provider's stock after selling 25,631 shares during the quarter. Bank of New York Mellon Corp owned about 0.74% of Old Second Bancorp worth $5,542,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OSBC. Vanguard Group Inc. lifted its holdings in shares of Old Second Bancorp by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 2,637,718 shares of the financial services provider's stock worth $46,899,000 after buying an additional 181,783 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Old Second Bancorp by 7.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,019,433 shares of the financial services provider's stock worth $35,906,000 after buying an additional 134,455 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Old Second Bancorp by 10.5% during the fourth quarter. American Century Companies Inc. now owns 1,038,495 shares of the financial services provider's stock worth $18,464,000 after buying an additional 98,617 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Old Second Bancorp by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,034,709 shares of the financial services provider's stock worth $18,402,000 after buying an additional 5,224 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Old Second Bancorp by 26.8% during the fourth quarter. AQR Capital Management LLC now owns 404,975 shares of the financial services provider's stock worth $7,200,000 after buying an additional 85,529 shares in the last quarter. 67.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OSBC shares. Stephens dropped their target price on Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Keefe, Bruyette & Woods dropped their price target on Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. DA Davidson boosted their price target on Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday. Piper Sandler reaffirmed an "overweight" rating and issued a $24.50 price target (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. Finally, Wall Street Zen raised Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Old Second Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $20.70.

Old Second Bancorp Price Performance

NASDAQ OSBC traded down $0.12 during trading hours on Monday, hitting $17.73. The company had a trading volume of 281,293 shares, compared to its average volume of 225,709. Old Second Bancorp, Inc. has a 52 week low of $14.14 and a 52 week high of $19.46. The firm has a 50 day simple moving average of $17.56 and a 200 day simple moving average of $17.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $798.91 million, a price-to-earnings ratio of 9.69 and a beta of 0.81.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). Old Second Bancorp had a net margin of 24.38% and a return on equity of 12.73%. The firm had revenue of $75.13 million for the quarter, compared to analysts' expectations of $63.58 million. Equities research analysts expect that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The company also recently declared a special dividend, which will be paid on Monday, August 4th. Investors of record on Friday, July 25th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a dividend yield of 1.3%. Old Second Bancorp's dividend payout ratio 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.