Teacher Retirement System of Texas Sells 14,388 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Teacher Retirement System of Texas cut its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 26.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,821 shares of the financial services provider's stock after selling 14,388 shares during the period. Teacher Retirement System of Texas owned approximately 0.09% of Old Second Bancorp worth $679,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in OSBC. Quarry LP increased its stake in 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 buying an additional 974 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Old Second Bancorp by 4,125.0% during the first quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock valued at $90,000 after acquiring an additional 5,280 shares during the last quarter. Quantbot Technologies LP lifted its holdings in 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 during the period. Aquatic Capital Management LLC lifted its holdings in Old Second Bancorp by 47.3% during the fourth 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 period. Finally, KLP Kapitalforvaltning AS purchased a new position in Old Second Bancorp in the fourth quarter worth $162,000. Institutional investors and hedge funds own 67.76% of the company's stock.

Old Second Bancorp Stock Performance

Shares of OSBC traded up $0.04 during trading hours on Friday, hitting $18.65. The company's stock had a trading volume of 195,055 shares, compared to its average volume of 251,970. The business has a 50 day simple moving average of $17.43 and a two-hundred day simple moving average of $17.23. Old Second Bancorp, Inc. has a 52-week low of $14.14 and a 52-week high of $19.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $840.37 million, a price-to-earnings ratio of 10.19 and a beta of 0.81.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last issued 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 net margin of 24.52% and a return on equity of 12.87%. The business had revenue of $73.57 million for the quarter, compared to the consensus estimate of $60.00 million. On average, equities analysts expect that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Monday, August 4th. Investors of record on Friday, July 25th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, July 25th. This represents a yield of 1.3%. Old Second Bancorp's dividend payout ratio (DPR) is 13.11%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen cut Old Second Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 28th. Piper Sandler reaffirmed an "overweight" rating and issued a $24.50 price objective (up previously from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. Stephens dropped 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 research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $20.50.

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.