State of New Jersey Common Pension Fund D Trims Position in Old Second Bancorp, Inc. (NASDAQ:OSBC)

State of New Jersey Common Pension Fund D lessened its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 35.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,036 shares of the financial services provider’s stock after selling 74,567 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.30% of Old Second Bancorp worth $1,970,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of Old Second Bancorp during the fourth quarter worth about $396,000. Vanguard Group Inc. grew its holdings in shares of Old Second Bancorp by 1.9% during the first quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock worth $33,548,000 after purchasing an additional 45,955 shares in the last quarter. Banc Funds Co. LLC grew its holdings in shares of Old Second Bancorp by 3.7% during the fourth quarter. Banc Funds Co. LLC now owns 2,126,262 shares of the financial services provider’s stock worth $32,829,000 after purchasing an additional 74,952 shares in the last quarter. Boston Partners grew its holdings in shares of Old Second Bancorp by 300.6% during the first quarter. Boston Partners now owns 55,735 shares of the financial services provider’s stock worth $771,000 after purchasing an additional 41,821 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Old Second Bancorp during the second quarter worth about $260,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Down 2.9 %

Shares of OSBC opened at $16.25 on Friday. The firm has a market cap of $728.75 million, a P/E ratio of 8.25 and a beta of 1.07. The stock has a 50 day simple moving average of $16.36 and a two-hundred day simple moving average of $14.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Old Second Bancorp, Inc. has a 1 year low of $13.00 and a 1 year high of $17.46.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old Second Bancorp had a return on equity of 14.83% and a net margin of 25.62%. The firm had revenue of $70.82 million during the quarter, compared to analysts’ expectations of $70.03 million. On average, analysts forecast that Old Second Bancorp, Inc. will post 1.91 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 26th were given a $0.05 dividend. The ex-dividend date was Friday, July 26th. This represents a $0.20 annualized dividend and a yield of 1.23%. Old Second Bancorp’s payout ratio is currently 10.15%.

Insider Buying and Selling at Old Second Bancorp

In other Old Second Bancorp news, Director John Ladowicz sold 30,585 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $16.22, for a total value of $496,088.70. Following the completion of the sale, the director now owns 189,192 shares in the company, valued at $3,068,694.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on OSBC. DA Davidson boosted their price objective on Old Second Bancorp from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Piper Sandler upped their target price on Old Second Bancorp from $18.00 to $19.50 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Raymond James lowered Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $19.00 to $18.00 in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

Old Second Bancorp Company 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.