Northern Trust Corp Purchases 8,908 Shares of Old Second Bancorp Inc. (OSBC)
Northern Trust Corp raised its position in shares of Old Second Bancorp Inc. (NASDAQ:OSBC) by 2.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 355,035 shares of the financial services provider’s stock after purchasing an additional 8,908 shares during the period. Northern Trust Corp’s holdings in Old Second Bancorp were worth $5,112,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. HRT Financial LLC purchased a new stake in shares of Old Second Bancorp during the 2nd quarter worth approximately $173,000. Bank of America Corp DE raised its holdings in shares of Old Second Bancorp by 208.4% during the 2nd quarter. Bank of America Corp DE now owns 22,739 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 15,365 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Old Second Bancorp by 7.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,131,700 shares of the financial services provider’s stock worth $16,296,000 after acquiring an additional 77,300 shares in the last quarter. Globeflex Capital L P raised its holdings in shares of Old Second Bancorp by 15.4% during the 2nd quarter. Globeflex Capital L P now owns 73,522 shares of the financial services provider’s stock worth $1,059,000 after acquiring an additional 9,800 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Old Second Bancorp by 3.7% during the 2nd quarter. BlackRock Inc. now owns 1,976,789 shares of the financial services provider’s stock worth $28,466,000 after acquiring an additional 69,773 shares in the last quarter. 72.26% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on OSBC. Sandler O’Neill reaffirmed a “buy” rating and set a $18.00 price objective on shares of Old Second Bancorp in a report on Friday, July 27th. BidaskClub raised Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Zacks Investment Research cut Old Second Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $17.00.
Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, October 24th. The financial services provider reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The firm had revenue of $31.55 million for the quarter, compared to the consensus estimate of $32.15 million. Old Second Bancorp had a return on equity of 16.05% and a net margin of 17.04%. On average, equities analysts expect that Old Second Bancorp Inc. will post 1.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 5th. Stockholders of record on Friday, October 26th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Thursday, October 25th. Old Second Bancorp’s dividend payout ratio is currently 4.94%.
About Old Second Bancorp
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank that provides a range of banking services. The company accepts demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers revolving lines of credit for working capital; lending for capital expenditures on manufacturing equipment; lending to small business manufactures, service companies, medical and dental entities, and specialty contractors; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage loans, second mortgage loans, and home equity line of credit mortgages; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans, as well as student loans; and overdraft checking.
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