Forum Financial Management LP Trims Stake in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Forum Financial Management LP cut its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 5.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,865 shares of the financial services provider's stock after selling 13,972 shares during the quarter. Forum Financial Management LP owned approximately 0.51% of Old Second Bancorp worth $3,825,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of OSBC. Charles Schwab Investment Management Inc. boosted its holdings in Old Second Bancorp by 2.3% during 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 acquiring an additional 8,134 shares during the period. Victory Capital Management Inc. lifted 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 during the period. Raymond James Financial Inc. purchased a new position in shares of Old Second Bancorp in the 4th quarter valued at approximately $459,000. Connor Clark & Lunn Investment Management Ltd. lifted 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 during the period. Finally, Thrivent Financial for Lutherans lifted 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 during the period. 67.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OSBC has been the subject of a number of research analyst reports. Piper Sandler restated an "overweight" rating and issued a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods lowered their target price 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. Stephens lowered their price objective 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. Finally, Wall Street Zen cut Old Second Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.50.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC traded up $0.04 during mid-day trading on Friday, reaching $18.65. The company's stock had a trading volume of 195,055 shares, compared to its average volume of 252,550. The firm has a market capitalization of $840.37 million, a PE ratio of 10.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a fifty day moving average of $17.39 and a two-hundred day moving average of $17.23. Old Second Bancorp, Inc. has a 52 week low of $14.14 and a 52 week high of $19.46.

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 the consensus estimate of $0.46 by ($0.01). The firm had revenue of $73.57 million for the quarter, compared to analysts' expectations of $60.00 million. Old Second Bancorp had a net margin of 24.52% and a return on equity of 12.87%. As a group, sell-side analysts anticipate that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently announced a special dividend, which will be paid on Monday, August 4th. Stockholders of record on Friday, July 25th will be paid a $0.06 dividend. This represents a dividend yield of 1.3%. The ex-dividend date is Friday, July 25th. Old Second Bancorp's dividend payout ratio is currently 13.11%.

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.