Old Second Bancorp Inc. (OSBC) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Old Second Bancorp Inc. (NASDAQ:OSBC) from a sell rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Old Second Bancorp Inc.’s full service banking businesses include the customary consumer and commercial products and services which banks provide. The following services are included: demand, savings, time deposit, individual retirement and Keogh deposit accounts; commercial, industrial, consumer and real estate lending, including installment loans, student loans, farm loans, lines of credit and overdraft checking; safe deposit operations; trust services; and an extensive variety of additional services tailored to the needs of individual customers. “

Separately, TheStreet raised shares of Old Second Bancorp from a c+ rating to a b- rating in a research report on Wednesday, February 8th.

Old Second Bancorp (NASDAQ:OSBC) opened at 10.80 on Wednesday. The company has a market cap of $319.20 million, a P/E ratio of 20.38 and a beta of 1.67. The company’s 50-day moving average is $10.98 and its 200-day moving average is $9.57. Old Second Bancorp has a 12 month low of $6.37 and a 12 month high of $11.64.

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In other news, Director John Ladowicz sold 17,831 shares of Old Second Bancorp stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $11.22, for a total value of $200,063.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward Bonifas acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, March 15th. The stock was purchased at an average cost of $11.00 per share, for a total transaction of $27,500.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 16,757 shares of company stock worth $182,698 in the last three months. Insiders own 3.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of OSBC. Thomson Horstmann & Bryant Inc. increased its stake in shares of Old Second Bancorp by 5.5% in the third quarter. Thomson Horstmann & Bryant Inc. now owns 1,538,442 shares of the financial services provider’s stock valued at $12,784,000 after buying an additional 80,581 shares in the last quarter. Analytic Investors LLC increased its stake in shares of Old Second Bancorp by 11.8% in the third quarter. Analytic Investors LLC now owns 53,686 shares of the financial services provider’s stock valued at $446,000 after buying an additional 5,672 shares in the last quarter. RMB Capital Management LLC increased its stake in shares of Old Second Bancorp by 111.1% in the third quarter. RMB Capital Management LLC now owns 258,288 shares of the financial services provider’s stock valued at $2,146,000 after buying an additional 135,918 shares in the last quarter. Boston Partners increased its stake in shares of Old Second Bancorp by 5.3% in the third quarter. Boston Partners now owns 460,760 shares of the financial services provider’s stock valued at $3,829,000 after buying an additional 23,290 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Old Second Bancorp during the fourth quarter valued at approximately $3,377,000. 68.37% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company for the Old Second National Bank (the Bank). The Company conducts a full service community banking and trust business through its subsidiaries. It operates in the community banking segment. The Company provides financial services through its approximately 20 banking locations that are located primarily in Aurora, Illinois, and its surrounding communities and throughout the Chicago metropolitan area.

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