Russell Investments Group Ltd. decreased its position in Old Second Bancorp Inc. (NASDAQ:OSBC) by 6.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 448,800 shares of the financial services provider’s stock after selling 29,400 shares during the period. Russell Investments Group Ltd. owned approximately 1.51% of Old Second Bancorp worth $6,935,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in OSBC. Hartford Investment Management Co. acquired a new position in shares of Old Second Bancorp in the 2nd quarter valued at $183,000. Acadian Asset Management LLC boosted its stake in Old Second Bancorp by 188.2% in the 2nd quarter. Acadian Asset Management LLC now owns 31,858 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 20,803 shares during the period. Bessemer Group Inc. acquired a new position in Old Second Bancorp in the 2nd quarter worth $487,000. Wedge Capital Management L L P NC boosted its stake in Old Second Bancorp by 31.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 99,220 shares of the financial services provider’s stock worth $1,429,000 after purchasing an additional 23,820 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Old Second Bancorp by 20.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 50,225 shares of the financial services provider’s stock worth $723,000 after purchasing an additional 8,425 shares during the period. 69.85% of the stock is owned by institutional investors.
Several brokerages have commented on OSBC. BidaskClub raised shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Zacks Investment Research raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, September 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Old Second Bancorp has an average rating of “Buy” and an average price target of $17.00.
Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. The company had revenue of $31.55 million for the quarter, compared to analysts’ expectations of $32.15 million. Old Second Bancorp had a net margin of 17.04% and a return on equity of 16.05%. As a group, equities analysts forecast that Old Second Bancorp Inc. will post 1.17 earnings per share for the current year.
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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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