VIRGINIA RETIREMENT SYSTEMS ET Al Buys 24,100 Shares of Old Second Bancorp, Inc. $OSBC

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 24,100 shares of the financial services provider’s stock, valued at approximately $590,000.

A number of other institutional investors have also recently made changes to their positions in OSBC. BlackRock Inc. bought a new position in shares of Old Second Bancorp during the 2nd quarter worth $100,245,000. Dimensional Fund Advisors LP raised its stake in Old Second Bancorp by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider’s stock valued at $48,159,000 after acquiring an additional 127,988 shares during the period. Davis Asset Management L.P. purchased a new stake in Old Second Bancorp during the second quarter valued at about $41,976,000. The Manufacturers Life Insurance Company purchased a new stake in Old Second Bancorp during the second quarter valued at about $20,350,000. Finally, Congress Asset Management Co. lifted its holdings in Old Second Bancorp by 21.4% during the third quarter. Congress Asset Management Co. now owns 411,201 shares of the financial services provider’s stock valued at $10,070,000 after purchasing an additional 72,551 shares during the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Insiders Place Their Bets

In other Old Second Bancorp news, Director Hugh McLean sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $25.63, for a total value of $640,750.00. Following the completion of the transaction, the director directly owned 135,351 shares of the company’s stock, valued at $3,469,046.13. This trade represents a 15.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Darin Campbell sold 24,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $25.53, for a total transaction of $612,720.00. Following the transaction, the insider owned 250,589 shares of the company’s stock, valued at $6,397,537.17. This trade represents a 8.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 149,000 shares of company stock worth $3,809,117 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Old Second Bancorp Price Performance

OSBC stock traded up $0.05 during mid-day trading on Friday, reaching $24.40. 559,624 shares of the company traded hands, compared to its average volume of 624,923. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $1.24 billion, a P/E ratio of 11.51 and a beta of 0.78. Old Second Bancorp, Inc. has a 52-week low of $17.61 and a 52-week high of $26.06. The company has a fifty day moving average price of $24.92 and a 200-day moving average price of $22.60.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Old Second Bancorp had a return on equity of 12.69% and a net margin of 24.50%. The firm had revenue of $97.12 million during the quarter, compared to analysts’ expectations of $98.22 million. As a group, analysts anticipate that Old Second Bancorp, Inc. will post 2.18 earnings per share for the current year.

Old Second Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 30th will be paid a $0.08 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.32 annualized dividend and a yield of 1.3%. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.07. Old Second Bancorp’s dividend payout ratio is currently 15.09%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OSBC. Piper Sandler reduced their target price on shares of Old Second Bancorp from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, October 26th. DA Davidson upped their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Raymond James Financial raised shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $27.00 to $30.00 in a report on Tuesday, October 6th. Zacks Research lowered shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Finally, Weiss Ratings raised shares of Old Second Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.75.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides banking and financial services to individuals, families, businesses and governmental entities.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and cash-management services. The bank also provides wealth management, trust and investment-related services through its financial services operations.

Founded in 1871, Old Second has a long history of serving communities in northern Illinois, including the Fox Valley and Chicago metropolitan area.