Northern Trust Corp Cuts Stock Position in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Northern Trust Corp lowered its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 447,145 shares of the financial services provider's stock after selling 15,767 shares during the quarter. Northern Trust Corp owned approximately 1.00% of Old Second Bancorp worth $7,950,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OSBC. Tudor Investment Corp ET AL bought a new position in shares of Old Second Bancorp during the fourth quarter worth $737,000. Quarry LP lifted its position in shares of Old Second Bancorp by 70.1% in the fourth quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock worth $42,000 after buying an additional 974 shares in the last quarter. Aquatic Capital Management LLC lifted its position in shares of Old Second Bancorp by 47.3% in the fourth quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider's stock worth $141,000 after buying an additional 2,556 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Old Second Bancorp in the fourth quarter worth about $6,084,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in Old Second Bancorp during the fourth quarter valued at $1,244,000. Hedge funds and other institutional investors own 67.76% of the company's stock.

Analyst Upgrades and Downgrades

OSBC has been the topic of a number of research reports. Keefe, Bruyette & Woods reduced their target price 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 reduced their target price on shares of Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $20.10.

Old Second Bancorp Trading Down 2.2%

Shares of NASDAQ OSBC traded down $0.38 during midday trading on Wednesday, hitting $16.65. The company's stock had a trading volume of 225,249 shares, compared to its average volume of 255,747. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The business's 50 day moving average is $16.04 and its two-hundred day moving average is $17.44. Old Second Bancorp, Inc. has a 12-month low of $13.38 and a 12-month high of $19.46. The firm has a market cap of $750.18 million, a P/E ratio of 8.90 and a beta of 0.78.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last issued 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 business had revenue of $73.57 million during the quarter, compared to analysts' expectations of $60.00 million. Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. As a group, equities research analysts expect that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, April 25th. Old Second Bancorp's payout ratio is presently 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.