Bank of New York Mellon Corp Trims Stake in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Bank of New York Mellon Corp reduced its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 358,688 shares of the financial services provider’s stock after selling 3,156 shares during the period. Bank of New York Mellon Corp’s holdings in Old Second Bancorp were worth $6,377,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in Old Second Bancorp in the 4th quarter worth about $96,000. Quantbot Technologies LP lifted its position in Old Second Bancorp by 134.0% during the third quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 3,587 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Old Second Bancorp during the third quarter valued at approximately $101,000. Intech Investment Management LLC purchased a new position in shares of Old Second Bancorp in the third quarter worth $158,000. Finally, New York State Common Retirement Fund raised its holdings in shares of Old Second Bancorp by 15.1% in the fourth quarter. New York State Common Retirement Fund now owns 11,466 shares of the financial services provider’s stock worth $204,000 after buying an additional 1,500 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on OSBC. Raymond James raised shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their target price on shares of Old Second Bancorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, Stephens boosted their price target on shares of Old Second Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. One 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 company. According to MarketBeat, Old Second Bancorp has a consensus rating of “Buy” and a consensus price target of $20.90.

Old Second Bancorp Trading Up 2.1 %

Shares of OSBC stock opened at $16.52 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $744.18 million, a P/E ratio of 8.83 and a beta of 1.04. The company has a 50 day moving average price of $18.17 and a 200 day moving average price of $17.53. Old Second Bancorp, Inc. has a fifty-two week low of $13.02 and a fifty-two week high of $19.46.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. Equities research analysts predict that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 31st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, January 31st. Old Second Bancorp’s payout ratio is 12.83%.

Insider Activity

In other Old Second Bancorp news, Director Rocks Patti Temple purchased 5,625 shares of Old Second Bancorp stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the transaction, the director now directly owns 18,679 shares in the company, valued at $332,299.41. This trade represents a 43.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.80% of the company’s stock.

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.