Old Second Bancorp, Inc. $OSBC Holdings Trimmed by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Old Second Bancorp by 45.7%, selling 153,800 shares and holding 182,837 shares valued at approximately $3 million.
• Old Second Bancorp announced a special dividend of $0.06 per share, resulting in a yield of 130.0% and a payout ratio of 13.11%.
• The company's latest quarterly earnings report showed an earnings per share of $0.48, slightly missing expectations, while revenue exceeded forecasts at $75.13 million.

Wellington Management Group LLP reduced its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 45.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,837 shares of the financial services provider's stock after selling 153,800 shares during the quarter. Wellington Management Group LLP owned about 0.41% of Old Second Bancorp worth $3,042,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in OSBC. American Century Companies Inc. boosted its holdings in shares of Old Second Bancorp by 9.7% during the first quarter. American Century Companies Inc. now owns 1,139,741 shares of the financial services provider's stock valued at $18,965,000 after acquiring an additional 101,246 shares during the period. Nuveen LLC acquired a new position in Old Second Bancorp during the 1st quarter valued at about $5,593,000. Cobblestone Capital Advisors LLC NY acquired a new position in Old Second Bancorp during the 1st quarter valued at about $234,000. Vanguard Group Inc. grew its position in Old Second Bancorp by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 2,711,390 shares of the financial services provider's stock worth $45,118,000 after purchasing an additional 73,672 shares during the last quarter. Finally, R Squared Ltd increased its stake in shares of Old Second Bancorp by 164.7% in the first quarter. R Squared Ltd now owns 14,349 shares of the financial services provider's stock valued at $239,000 after purchasing an additional 8,929 shares during the period. 67.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Piper Sandler reissued an "overweight" rating and issued a $24.50 price objective (up from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. DA Davidson boosted their price target on Old Second Bancorp from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Wall Street Zen raised Old Second Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $20.70.

Old Second Bancorp Price Performance

Old Second Bancorp stock traded up $0.28 during midday trading on Thursday, hitting $18.76. The company's stock had a trading volume of 231,881 shares, compared to its average volume of 170,401. Old Second Bancorp, Inc. has a 12 month low of $14.14 and a 12 month 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. The company has a market capitalization of $987.71 million, a PE ratio of 10.25 and a beta of 0.85. The stock's 50-day moving average price is $18.04 and its 200-day moving average price is $17.08.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%.The business had revenue of $75.13 million during the quarter, compared to analyst estimates of $63.58 million. 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 declared a special dividend, which was paid on Monday, August 4th. Shareholders of record on Friday, July 25th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a dividend yield of 130.0%. Old Second Bancorp's dividend payout ratio is currently 13.11%.

About Old Second Bancorp

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.