Bank of New York Mellon Corp Sells 3,156 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Bank of New York Mellon Corp lowered its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 owned 0.80% of Old Second Bancorp worth $6,377,000 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 the business. R Squared Ltd purchased a new stake in Old Second Bancorp during the fourth quarter valued at about $96,000. Quantbot Technologies LP grew its stake in shares of 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 buying an additional 3,587 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Old Second Bancorp during the third quarter valued at about $101,000. Intech Investment Management LLC bought a new position in shares of Old Second Bancorp during the third quarter valued at about $158,000. Finally, Paloma Partners Management Co bought a new position in shares of Old Second Bancorp during the third quarter valued at about $204,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Trading Up 2.1 %

NASDAQ:OSBC opened at $16.52 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp, Inc. has a 12 month low of $13.02 and a 12 month high of $19.46. The company has a market cap of $744.18 million, a PE ratio of 8.83 and a beta of 1.04. The company has a 50 day simple moving average of $18.17 and a two-hundred day simple moving average of $17.53.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. Research analysts forecast that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on OSBC shares. Raymond James raised Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note 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 company an “outperform” rating in a report on Thursday, February 27th. Finally, Stephens boosted their price objective on shares of Old Second Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.90.

Insider Buying and Selling

In related news, Director Rocks Patti Temple purchased 5,625 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the purchase, 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 filing with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is currently owned by insiders.

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.