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

JPMorgan Chase & Co. lessened its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 780,001 shares of the financial services provider’s stock after selling 69,867 shares during the period. JPMorgan Chase & Co. owned 1.48% of Old Second Bancorp worth $13,482,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after buying an additional 630,265 shares during the period. Vanguard Group Inc. grew its holdings in Old Second Bancorp by 20.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock worth $56,522,000 after acquiring an additional 553,169 shares during the last quarter. Kennedy Capital Management LLC increased its position in Old Second Bancorp by 93.3% in the 2nd quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider’s stock valued at $17,687,000 after acquiring an additional 481,302 shares during the period. River Street Advisors LLC bought a new position in shares of Old Second Bancorp during the third quarter valued at $6,637,000. Finally, American Century Companies Inc. lifted its holdings in shares of Old Second Bancorp by 13.1% during the third quarter. American Century Companies Inc. now owns 1,387,891 shares of the financial services provider’s stock worth $23,990,000 after purchasing an additional 160,429 shares during the period. 67.76% of the stock is owned by institutional investors and hedge funds.

Old Second Bancorp Trading Down 0.7%

OSBC opened at $19.57 on Friday. Old Second Bancorp, Inc. has a twelve month low of $14.14 and a twelve month high of $22.00. The company has a fifty day moving average of $20.08 and a 200-day moving average of $19.21. The stock has a market cap of $1.03 billion, a PE ratio of 12.01 and a beta of 0.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. The business had revenue of $95.20 million for the quarter, compared to analyst estimates of $82.49 million. Old Second Bancorp had a net margin of 20.00% and a return on equity of 12.79%. On average, sell-side analysts predict that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Friday, January 30th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, January 30th. Old Second Bancorp’s payout ratio is currently 17.18%.

Insider Activity

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

Analyst Ratings Changes

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

Old Second Bancorp Company Profile

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.