Old Second Bancorp, Inc. $OSBC Holdings Raised by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its Old Second Bancorp stake by 21.4% in the third quarter, adding 72,551 shares to own 411,201 shares valued at approximately $10.1 million. Institutional investors collectively hold 67.76% of the company.
• Insiders have been selling shares: executives and directors sold a combined 149,000 shares worth about $3.81 million over the past 90 days, while insiders retain a 3.60% ownership stake.
• OSBC recently traded at $24.66, near its 52-week high, and analysts maintain a “Moderate Buy” consensus with a $26.20 average price target. The company also pays a quarterly dividend of $0.07 per share, yielding approximately 1.1% annually.

Congress Asset Management Co. boosted its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 21.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 411,201 shares of the financial services provider's stock after purchasing an additional 72,551 shares during the period. Congress Asset Management Co. owned approximately 0.81% of Old Second Bancorp worth $10,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new stake in Old Second Bancorp during the 2nd quarter valued at approximately $44,000. NewEdge Advisors LLC purchased a new position in shares of Old Second Bancorp during the second quarter worth $202,000. Susquehanna Fundamental Investments LLC raised its holdings in shares of Old Second Bancorp by 208.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 50,693 shares of the financial services provider's stock worth $1,182,000 after purchasing an additional 34,268 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Old Second Bancorp by 12.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,132 shares of the financial services provider's stock valued at $1,775,000 after purchasing an additional 8,602 shares during the period. Finally, Empowered Funds LLC acquired a new position in Old Second Bancorp during the second quarter valued at $5,798,000. Institutional investors and hedge funds own 67.76% of the company's stock.

Insiders Place Their Bets

In other Old Second Bancorp news, insider Darin Campbell sold 24,000 shares of the business's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $25.53, for a total value of $612,720.00. Following the transaction, the insider directly owned 250,589 shares in the company, valued at $6,397,537.17. The trade was a 8.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Hugh McLean sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $25.73, for a total value of $643,250.00. Following the completion of the transaction, the director owned 135,351 shares in the company, valued at $3,482,581.23. This represents a 15.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 149,000 shares of company stock valued at $3,809,117. Insiders own 3.60% of the company's stock.

Old Second Bancorp Stock Performance

OSBC opened at $24.66 on Thursday. The firm's fifty day simple moving average is $25.27 and its two-hundred day simple moving average is $22.99. Old Second Bancorp, Inc. has a 52-week low of $16.65 and a 52-week high of $26.06. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 14.17 and a beta of 0.77. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. Equities analysts anticipate that Old Second Bancorp, Inc. will post 2.22 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 31st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. Old Second Bancorp's payout ratio is 16.09%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OSBC. Piper Sandler reissued an "overweight" rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. Raymond James Financial upgraded Old Second Bancorp from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $27.00 to $30.00 in a research report on Tuesday. DA Davidson raised their price objective on shares of Old Second Bancorp from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Old Second Bancorp in a report on Wednesday, August 26th. Finally, Zacks Research cut shares of Old Second Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $26.20.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc NASDAQ: OSBC is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides community banking services to individuals, families, businesses and institutions.

The bank offers a range of financial products and services, including commercial and residential real estate lending, business and consumer loans, checking and savings accounts, certificates of deposit, treasury management and online and mobile banking.

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