Patriot Financial Partners GP LP Buys Shares of 11,000 Old Second Bancorp Inc. (NASDAQ:OSBC)

Patriot Financial Partners GP LP bought a new stake in shares of Old Second Bancorp Inc. (NASDAQ:OSBC) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 11,000 shares of the financial services provider’s stock, valued at approximately $134,000. Old Second Bancorp makes up approximately 0.0% of Patriot Financial Partners GP LP’s portfolio, making the stock its 19th biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OSBC. Nuveen Asset Management LLC bought a new position in Old Second Bancorp during the second quarter valued at about $3,084,000. Castine Capital Management LLC raised its holdings in Old Second Bancorp by 34.9% during the second quarter. Castine Capital Management LLC now owns 637,098 shares of the financial services provider’s stock valued at $8,136,000 after buying an additional 164,990 shares in the last quarter. Banc Funds Co. LLC increased its stake in shares of Old Second Bancorp by 5.7% in the second quarter. Banc Funds Co. LLC now owns 1,971,473 shares of the financial services provider’s stock worth $25,176,000 after purchasing an additional 105,446 shares during the period. Maltese Capital Management LLC increased its stake in shares of Old Second Bancorp by 16.9% in the second quarter. Maltese Capital Management LLC now owns 693,802 shares of the financial services provider’s stock worth $8,860,000 after purchasing an additional 100,502 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Old Second Bancorp by 9.5% in the second quarter. Russell Investments Group Ltd. now owns 796,771 shares of the financial services provider’s stock worth $10,175,000 after purchasing an additional 69,280 shares during the period. Institutional investors own 69.33% of the company’s stock.

A number of research firms have recently commented on OSBC. ValuEngine upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Raymond James set a $14.00 price objective on Old Second Bancorp and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Zacks Investment Research upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $14.00.

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Shares of Old Second Bancorp stock traded down $0.09 during trading on Friday, reaching $12.50. The company’s stock had a trading volume of 84,100 shares, compared to its average volume of 63,395. The firm has a market cap of $378.19 million, a price-to-earnings ratio of 11.16 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.88 and a current ratio of 0.88. Old Second Bancorp Inc. has a one year low of $11.24 and a one year high of $15.01. The business’s fifty day moving average price is $12.24 and its 200-day moving average price is $12.47.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. The business had revenue of $36.71 million for the quarter, compared to the consensus estimate of $33.15 million. Old Second Bancorp had a return on equity of 15.85% and a net margin of 25.69%. Sell-side analysts anticipate that Old Second Bancorp Inc. will post 1.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Thursday, October 24th. Old Second Bancorp’s payout ratio is currently 3.57%.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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Want to see what other hedge funds are holding OSBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Second Bancorp Inc. (NASDAQ:OSBC).

Institutional Ownership by Quarter for Old Second Bancorp (NASDAQ:OSBC)

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