The Manufacturers Life Insurance Company Sells 16,223 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

The Manufacturers Life Insurance Company reduced its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 946,938 shares of the financial services provider's stock after selling 16,223 shares during the quarter. The Manufacturers Life Insurance Company owned about 2.11% of Old Second Bancorp worth $16,837,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Old Second Bancorp by 16.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider's stock valued at $17,174,000 after buying an additional 153,187 shares during the last quarter. Barclays PLC lifted its holdings in Old Second Bancorp by 81.3% during the third quarter. Barclays PLC now owns 116,582 shares of the financial services provider's stock worth $1,817,000 after acquiring an additional 52,277 shares during the period. Principal Financial Group Inc. boosted its position in Old Second Bancorp by 11.5% in the third quarter. Principal Financial Group Inc. now owns 32,243 shares of the financial services provider's stock worth $503,000 after purchasing an additional 3,313 shares during the last quarter. SG Americas Securities LLC grew its stake in Old Second Bancorp by 26.5% in the 4th quarter. SG Americas Securities LLC now owns 33,758 shares of the financial services provider's stock valued at $600,000 after purchasing an additional 7,068 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Old Second Bancorp by 31.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 168,934 shares of the financial services provider's stock valued at $3,004,000 after purchasing an additional 40,542 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on OSBC. Stephens reduced their price target on shares of Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Keefe, Bruyette & Woods lowered their price target on shares of Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Old Second Bancorp has an average rating of "Buy" and an average target price of $20.10.

Old Second Bancorp Stock Performance

Shares of OSBC traded down $0.18 during trading hours on Friday, hitting $16.58. The company's stock had a trading volume of 82,338 shares, compared to its average volume of 254,169. The business has a 50 day simple moving average of $16.00 and a two-hundred day simple moving average of $17.42. Old Second Bancorp, Inc. has a 52-week low of $13.38 and a 52-week high of $19.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $746.88 million, a price-to-earnings ratio of 8.87 and a beta of 0.78.

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 24.95% and a return on equity of 13.73%. 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 declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, April 25th. Old Second Bancorp's dividend payout ratio is presently 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.