MetLife Investment Management LLC Reduces Stock Position in Old Second Bancorp, Inc. (NASDAQ:OSBC)

MetLife Investment Management LLC trimmed its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 6.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,940 shares of the financial services provider’s stock after selling 1,566 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Old Second Bancorp worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in Old Second Bancorp during the 2nd quarter valued at $33,000. Innealta Capital LLC bought a new position in Old Second Bancorp in the second quarter valued at about $49,000. Quantbot Technologies LP boosted its position in Old Second Bancorp by 134.0% in the third quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 3,587 shares during the last quarter. CWM LLC grew its stake in shares of Old Second Bancorp by 36.3% during the 3rd quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 2,123 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Old Second Bancorp during the 3rd quarter valued at about $158,000. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Trading Down 0.3 %

Shares of OSBC stock opened at $18.69 on Monday. The company has a market cap of $838.25 million, a PE ratio of 10.10 and a beta of 1.08. Old Second Bancorp, Inc. has a 1 year low of $13.00 and a 1 year high of $19.37. The stock’s 50 day simple moving average is $17.15 and its two-hundred day simple moving average is $16.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

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

Old Second Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 25th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, October 25th. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s payout ratio is 12.97%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. DA Davidson set a $18.00 target price on shares of Old Second Bancorp in a research report on Thursday, October 17th. Piper Sandler upped their price objective on 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, Raymond James downgraded Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $19.00 to $18.00 in a research report on Tuesday, September 17th.

Old Second Bancorp Company Profile

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.