JPMorgan Chase & Co. Has $13.48 Million Stock Holdings in Old Second Bancorp, Inc. $OSBC

JPMorgan Chase & Co. reduced its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 8.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 780,001 shares of the financial services provider’s stock after selling 69,867 shares during the quarter. JPMorgan Chase & Co.’s holdings in Old Second Bancorp were worth $13,482,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OSBC. Tudor Investment Corp ET AL acquired a new stake in shares of Old Second Bancorp in the 3rd quarter valued at about $376,000. CIBC Bancorp USA Inc. acquired a new position in Old Second Bancorp during the 3rd quarter worth approximately $185,000. Jacobs Levy Equity Management Inc. boosted its holdings in Old Second Bancorp by 15.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 17,409 shares of the financial services provider’s stock worth $301,000 after acquiring an additional 2,309 shares in the last quarter. PMC FIG Opportunities LLC bought a new position in Old Second Bancorp in the third quarter worth approximately $978,000. Finally, Mariner LLC grew its stake in Old Second Bancorp by 39.0% in the third quarter. Mariner LLC now owns 16,380 shares of the financial services provider’s stock valued at $283,000 after acquiring an additional 4,600 shares during the period. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Stock Performance

Shares of OSBC opened at $19.57 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50 day moving average price of $20.08 and a two-hundred day moving average price of $19.21. The firm has a market capitalization of $1.03 billion, a P/E ratio of 12.01 and a beta of 0.79. Old Second Bancorp, Inc. has a 52 week low of $14.14 and a 52 week high of $22.00.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $95.20 million for the quarter, compared to analyst estimates of $82.49 million. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%. Equities analysts forecast 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, February 9th. Investors of record on Friday, January 30th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, January 30th. Old Second Bancorp’s dividend payout ratio is presently 17.18%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stephens initiated coverage on Old Second Bancorp in a report on Friday. They set an “overweight” rating and a $23.00 price objective for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. Finally, DA Davidson boosted their price target on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Old Second Bancorp has a consensus rating of “Moderate Buy” and an average price target of $23.38.

Insider Buying and Selling at Old Second Bancorp

In other Old Second Bancorp news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of Old Second Bancorp stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $20.98, for a total transaction of $41,960.00. Following the transaction, the executive vice president directly owned 24,874 shares of the company’s stock, valued at $521,856.52. The trade was a 7.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darin Patrick Campbell sold 35,000 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total transaction of $732,900.00. Following the completion of the sale, the insider owned 274,589 shares of the company’s stock, valued at approximately $5,749,893.66. The trade was a 11.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 37,091 shares of company stock worth $776,744. Company insiders own 3.80% of the company’s stock.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.