Forum Financial Management LP Sells 13,972 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Forum Financial Management LP reduced its position in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,865 shares of the financial services provider's stock after selling 13,972 shares during the period. Forum Financial Management LP owned approximately 0.51% of Old Second Bancorp worth $3,825,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Old Second Bancorp by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,480 shares of the financial services provider's stock valued at $6,516,000 after purchasing an additional 8,134 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Old Second Bancorp by 29.4% in the 4th quarter. Victory Capital Management Inc. now owns 26,632 shares of the financial services provider's stock valued at $474,000 after purchasing an additional 6,049 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Old Second Bancorp in the 4th quarter valued at about $459,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Old Second Bancorp by 122.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 40,601 shares of the financial services provider's stock valued at $722,000 after purchasing an additional 22,329 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Old Second Bancorp by 32.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 116,751 shares of the financial services provider's stock valued at $2,076,000 after purchasing an additional 28,451 shares in the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

Old Second Bancorp Stock Up 0.2%

Shares of NASDAQ:OSBC traded up $0.04 during trading on Friday, reaching $18.65. 195,055 shares of the company traded hands, compared to its average volume of 251,700. The firm has a fifty day simple moving average of $17.43 and a 200 day simple moving average of $17.23. The firm has a market cap of $840.37 million, a P/E ratio of 10.19 and a beta of 0.81. Old Second Bancorp, Inc. has a 1-year low of $14.14 and a 1-year high of $19.46. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12.

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

Old Second Bancorp Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Monday, August 4th. Stockholders of record on Friday, July 25th will be issued 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 payout ratio is 13.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Piper Sandler reiterated an "overweight" rating and set a $24.50 price objective (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. Wall Street Zen upgraded shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday. Stephens dropped their price target on shares of Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods dropped 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 research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Old Second Bancorp currently has an average rating of "Moderate Buy" and an average price target of $20.50.

Old Second Bancorp Company Profile

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.