HighTower Advisors LLC Sells 4,148 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

HighTower Advisors LLC lowered its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 8.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 47,949 shares of the financial services provider’s stock after selling 4,148 shares during the quarter. HighTower Advisors LLC’s holdings in Old Second Bancorp were worth $750,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Davis Asset Management L.P. purchased a new position in shares of Old Second Bancorp in the second quarter valued at about $8,623,000. Assenagon Asset Management S.A. raised its stake in Old Second Bancorp by 180.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 443,527 shares of the financial services provider’s stock valued at $6,915,000 after purchasing an additional 285,314 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Old Second Bancorp by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock worth $25,188,000 after purchasing an additional 138,253 shares in the last quarter. American Century Companies Inc. lifted its holdings in Old Second Bancorp by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock worth $11,851,000 after purchasing an additional 131,623 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Old Second Bancorp during the 3rd quarter valued at approximately $1,962,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Down 4.5 %

NASDAQ OSBC opened at $17.31 on Thursday. The stock has a 50 day moving average price of $17.68 and a 200-day moving average price of $16.30. Old Second Bancorp, Inc. has a one year low of $13.00 and a one year high of $19.37. 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 company has a market capitalization of $776.41 million, a P/E ratio of 9.36 and a beta of 1.08.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. The company had revenue of $71.16 million for the quarter, compared to the consensus estimate of $70.95 million. As a group, equities analysts predict that Old Second Bancorp, Inc. will post 1.95 EPS for the current fiscal year.

Old Second Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued a $0.06 dividend. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.39%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 12.97%.

Analyst Ratings Changes

OSBC has been the topic of several research analyst reports. Raymond James downgraded shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $19.00 to $18.00 in a report on Tuesday, September 17th. Piper Sandler boosted their price target on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, DA Davidson set a $18.00 price objective on Old Second Bancorp in a research report on Thursday, October 17th.

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.