Old Second Bancorp (NASDAQ:OSBC) reduced to “Hold” at Zacks Investment Research


Former second Bancorp (NASDAQ:OSBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note published Wednesday, Zacks.com reports.

According to Zacks, “Old Second Bancorp Inc.’s full-service banking business includes the customary commercial and consumer products and services provided by banks. The following services are included: current accounts, savings, term deposit , individual retirement and Keogh deposit; commercial accounts, industrial, consumer and real estate loans, including installment loans, student loans, agricultural loans, lines of credit and verification of overdrafts; safe deposit; fiduciary services; and a wide variety of additional services tailored to the needs of individual customers.”

Separately, Raymond James raised its price target on Old Second Bancorp from $15.00 to $16.00 and gave the stock a “strong buy” rating in a Friday, October 22 report.

OSBC opened at $13.59 on Wednesday. Old Second Bancorp has a 12-month low of $10.30 and a 12-month high of $14.45. The company has a debt ratio of 0.47, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $390.14 million, a P/E ratio of 18.62 and a beta of 1.27. The stock’s 50-day moving average price is $12.98 and its 200-day moving average price is $12.73.

In other Old Second Bancorp news, Director William B. Skoglund sold 4,557 shares of the company in a transaction dated Monday, November 8. The stock was sold at an average price of $14.01, for a total value of $63,843.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. 4.70% of the shares are currently held by insiders of the company.

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Several institutional investors have recently bought and sold shares of the company. FJ Capital Management LLC increased its stake in shares of Old Second Bancorp by 39.5% in the third quarter. FJ Capital Management LLC now owns 2,164,000 shares of the financial services provider worth $28,264,000 after purchasing an additional 613,000 shares during the period. FMR LLC increased its stake in shares of Old Second Bancorp by 27.8% in the second quarter. FMR LLC now owns 1,123,935 shares of the financial services provider worth $13,937,000 after purchasing an additional 244,619 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Old Second Bancorp by 0.3% in the third quarter. The Manufacturers Life Insurance Company now owns 1,064,941 shares of the financial services provider worth $13,908,000 after purchasing 3,048 additional shares during the period. The Manufacturers Life Insurance Company increased its stake in Old Second Bancorp by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 1,061,893 shares of the financial services provider valued at $13,168,000 after acquiring an additional 34,477 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Old Second Bancorp by 2.9% during the third quarter. Renaissance Technologies LLC now owns 872,375 shares of the financial services provider valued at $11,393,000 after acquiring an additional 24,550 shares during the period. Institutional investors and hedge funds own 71.00% of the company’s shares.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company that provides traditional retail and commercial banking services through its wholly owned subsidiaries. Its services include retail banking, lending, corporate banking and wealth management. The company was founded in 1981 and is based in Aurora, Illinois.

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