Old Second Bancorp (OSBC) Lowered to “Strong Sell” at BidaskClub

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BidaskClub cut shares of Old Second Bancorp (NASDAQ:OSBC) from a sell rating to a strong sell rating in a research report sent to investors on Friday.

Separately, ValuEngine downgraded shares of Old Second Bancorp from a hold rating to a sell rating in a report on Wednesday.

OSBC traded down $0.62 during trading on Friday, hitting $12.50. 86,885 shares of the company’s stock were exchanged, compared to its average volume of 46,714. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. Old Second Bancorp has a fifty-two week low of $11.32 and a fifty-two week high of $16.30. The company has a market cap of $373.63 million, a price-to-earnings ratio of 15.43, a PEG ratio of 1.49 and a beta of 0.98.

In other Old Second Bancorp news, EVP Keith Gottschalk sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $14.10, for a total transaction of $42,300.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Old Second Bancorp by 2.0% during the fourth quarter. BlackRock Inc. now owns 2,051,586 shares of the financial services provider’s stock worth $26,671,000 after buying an additional 39,292 shares during the last quarter. Thomson Horstmann & Bryant Inc. raised its holdings in Old Second Bancorp by 0.7% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 1,349,822 shares of the financial services provider’s stock worth $17,547,000 after buying an additional 9,706 shares during the last quarter. Vanguard Group Inc. raised its holdings in Old Second Bancorp by 1.3% during the third quarter. Vanguard Group Inc. now owns 1,244,642 shares of the financial services provider’s stock worth $19,230,000 after buying an additional 15,408 shares during the last quarter. Vanguard Group Inc raised its holdings in Old Second Bancorp by 1.3% during the third quarter. Vanguard Group Inc now owns 1,244,642 shares of the financial services provider’s stock worth $19,230,000 after buying an additional 15,408 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Old Second Bancorp by 22.0% during the third quarter. The Manufacturers Life Insurance Company now owns 1,004,613 shares of the financial services provider’s stock worth $15,521,000 after buying an additional 181,105 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

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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