Wellington Management Group LLP Has $3.04 Million Holdings in Old Second Bancorp, Inc. $OSBC

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 decreased its position in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 45.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 182,837 shares of the financial services provider's stock after selling 153,800 shares during the period. Wellington Management Group LLP owned about 0.41% of Old Second Bancorp worth $3,042,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its holdings in Old Second Bancorp by 3.9% in the 1st quarter. Alps Advisors Inc. now owns 21,698 shares of the financial services provider's stock valued at $361,000 after acquiring an additional 808 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Old Second Bancorp by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider's stock valued at $441,000 after purchasing an additional 843 shares during the period. Quarry LP grew its stake in shares of Old Second Bancorp by 70.1% in 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 during the period. Principal Financial Group Inc. grew its stake in shares of Old Second Bancorp by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 36,434 shares of the financial services provider's stock valued at $606,000 after purchasing an additional 1,109 shares during the period. Finally, Squarepoint Ops LLC grew its stake in shares of Old Second Bancorp by 6.4% in the 4th quarter. Squarepoint Ops LLC now owns 22,703 shares of the financial services provider's stock valued at $404,000 after purchasing an additional 1,363 shares during the period. Institutional investors and hedge funds own 67.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Piper Sandler restated an "overweight" rating and set a $24.50 price target (up from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. Finally, DA Davidson increased 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Old Second Bancorp has a consensus rating of "Buy" and a consensus price target of $20.70.

Old Second Bancorp Trading Down 0.4%

NASDAQ:OSBC traded down $0.07 during trading hours on Monday, hitting $18.46. 202,873 shares of the stock were exchanged, compared to its average volume of 173,523. The company's 50 day moving average is $17.97 and its two-hundred day moving average is $17.06. Old Second Bancorp, Inc. has a twelve month low of $14.14 and a twelve 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 $971.92 million, a P/E ratio of 10.09 and a beta of 0.85.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted 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). The firm had revenue of $75.13 million for the quarter, compared to analyst estimates of $63.58 million. Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%. On average, sell-side 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 firm also recently disclosed a special dividend, which was paid on Monday, August 4th. Investors of record on Friday, July 25th were paid a dividend of $0.06 per share. This represents a yield of 130.0%. The ex-dividend date of this dividend was Friday, July 25th. Old Second Bancorp's dividend payout ratio (DPR) is presently 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.