Forum Financial Management LP Decreases Stake in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Forum Financial Management LP reduced its position in Old Second Bancorp, Inc. (NASDAQ:OSBC – Free Report) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,951,063 shares of the financial services provider’s stock after selling 25,050 shares during the period. Old Second Bancorp makes up about 1.2% of Forum Financial Management LP’s holdings, making the stock its 14th biggest holding. Forum Financial Management LP owned approximately 6.61% of Old Second Bancorp worth $41,492,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OSBC. Dorsey Wright & Associates bought a new position in shares of Old Second Bancorp during the fourth quarter worth about $31,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Old Second Bancorp during the second quarter worth about $48,000. Tower Research Capital LLC TRC lifted its position in shares of Old Second Bancorp by 281.1% during the third quarter. Tower Research Capital LLC TRC now owns 8,033 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 5,925 shares during the last quarter. UBS Group AG lifted its position in shares of Old Second Bancorp by 140.8% during the second quarter. UBS Group AG now owns 11,068 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 6,471 shares during the last quarter. Finally, Arizona State Retirement System bought a new position in shares of Old Second Bancorp during the fourth quarter worth about $161,000. 65.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on OSBC shares. Stephens reaffirmed an “overweight” rating and set a $18.00 price target on shares of Old Second Bancorp in a research report on Friday, April 21st. StockNews.com upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 19th. Finally, Raymond James dropped their price objective on shares of Old Second Bancorp from $20.00 to $18.00 and set a “strong-buy” rating on the stock in a research note on Thursday, April 6th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $19.00.

Old Second Bancorp Stock Performance

OSBC traded down $0.12 on Friday, hitting $13.09. 9,201 shares of the company’s stock were exchanged, compared to its average volume of 183,125. The firm has a market cap of $584.73 million, a PE ratio of 7.59 and a beta of 1.09. Old Second Bancorp, Inc. has a twelve month low of $10.79 and a twelve month high of $17.80. The stock has a fifty day moving average of $12.55 and a two-hundred day moving average of $14.59. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.26.

Old Second Bancorp (NASDAQ:OSBC – Free Report) last announced its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.02). Old Second Bancorp had a net margin of 28.18% and a return on equity of 17.58%. The firm had revenue of $71.44 million during the quarter, compared to analyst estimates of $74.40 million. On average, research analysts anticipate that Old Second Bancorp, Inc. will post 2.15 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 8th. Shareholders of record on Friday, April 28th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.53%. Old Second Bancorp’s payout ratio is currently 11.49%.

About Old Second Bancorp

(Free Report)

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.

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