Forum Financial Management LP Sells 990,376 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Forum Financial Management LP trimmed its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 80.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,837 shares of the financial services provider's stock after selling 990,376 shares during the quarter. Forum Financial Management LP owned 0.54% of Old Second Bancorp worth $4,335,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Quarry LP increased its stake in Old Second Bancorp by 70.1% during the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 974 shares in the last quarter. R Squared Ltd acquired a new position in shares of Old Second Bancorp during the fourth quarter valued at about $96,000. Quantbot Technologies LP increased its position in shares of Old Second Bancorp by 20.2% during the fourth quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider's stock worth $134,000 after acquiring an additional 1,264 shares in the last quarter. Aquatic Capital Management LLC raised its holdings in shares of Old Second Bancorp by 47.3% in the 4th quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider's stock worth $141,000 after acquiring an additional 2,556 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Old Second Bancorp in the 4th quarter worth about $162,000. 67.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OSBC has been the topic of a number of recent research reports. Stephens dropped their target price on Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Keefe, Bruyette & Woods lowered their price target on Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $20.10.

Old Second Bancorp Stock Performance

Shares of NASDAQ:OSBC traded up $0.37 during mid-day trading on Tuesday, reaching $16.78. The company had a trading volume of 159,139 shares, compared to its average volume of 256,020. Old Second Bancorp, Inc. has a one year low of $13.38 and a one year high of $19.46. 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 company's 50-day moving average price is $16.02 and its 200-day moving average price is $17.42. The firm has a market cap of $756.04 million, a price-to-earnings ratio of 8.97 and a beta of 0.78.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. The firm had revenue of $73.57 million during the quarter, compared to analysts' expectations of $60.00 million. As a group, equities research analysts anticipate that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.43%. Old Second Bancorp's payout ratio is 13.11%.

Old Second Bancorp 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.