The Manufacturers Life Insurance Company Makes New Investment in Old Second Bancorp, Inc. $OSBC

The Manufacturers Life Insurance Company purchased a new stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 872,651 shares of the financial services provider’s stock, valued at approximately $20,350,000.

Several other institutional investors have also recently made changes to their positions in the stock. Harbour Investments Inc. bought a new position in shares of Old Second Bancorp during the 4th quarter worth about $26,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Old Second Bancorp in the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its stake in shares of Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,215 shares during the period. Parkside Financial Bank & Trust bought a new stake in Old Second Bancorp in the 4th quarter valued at about $45,000. Finally, Clearstead Advisors LLC increased its position in Old Second Bancorp by 793.8% in the 4th quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock valued at $47,000 after buying an additional 2,159 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

Insider Activity at Old Second Bancorp

In other news, CEO James Eccher sold 19,313 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $25.61, for a total value of $494,605.93. Following the completion of the sale, the chief executive officer directly owned 303,399 shares of the company’s stock, valued at $7,770,048.39. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on OSBC shares. Zacks Research raised Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Piper Sandler reissued an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. DA Davidson boosted their price objective on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Finally, Raymond James Financial started coverage on Old Second Bancorp in a report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $25.40.

Old Second Bancorp Trading Down 0.3%

NASDAQ:OSBC opened at $25.17 on Friday. 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 firm has a 50-day moving average of $24.26 and a 200-day moving average of $21.95. The company has a market cap of $1.28 billion, a PE ratio of 14.47 and a beta of 0.70. Old Second Bancorp, Inc. has a one year low of $16.65 and a one year high of $26.06.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. As a group, equities research analysts expect that Old Second Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 31st were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. Old Second Bancorp’s dividend payout ratio is 16.09%.

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.