Adage Capital Partners GP L.L.C. Buys Shares of 69,987 Old Second Bancorp, Inc. (NASDAQ:OSBC)

Adage Capital Partners GP L.L.C. purchased a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 69,987 shares of the financial services provider’s stock, valued at approximately $1,244,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OSBC. R Squared Ltd bought a new stake in Old Second Bancorp during the 4th quarter worth approximately $96,000. Quantbot Technologies LP grew its stake in shares of Old Second Bancorp by 20.2% in the fourth quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 1,264 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Old Second Bancorp in the fourth quarter valued at $162,000. New York State Common Retirement Fund raised its position in Old Second Bancorp by 15.1% during the 4th quarter. New York State Common Retirement Fund now owns 11,466 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 1,500 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Old Second Bancorp during the 4th quarter worth about $214,000. Institutional investors and hedge funds own 67.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OSBC. Stephens decreased their price target on Old Second Bancorp from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Keefe, Bruyette & Woods lowered their price target on shares of Old Second Bancorp from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, April 25th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $20.10.

Old Second Bancorp Stock Up 1.1 %

Shares of NASDAQ:OSBC opened at $16.14 on Wednesday. The business’s 50-day moving average is $16.27 and its 200-day moving average is $17.43. Old Second Bancorp, Inc. has a 1 year low of $13.27 and a 1 year high of $19.46. The company has a market capitalization of $727.06 million, a price-to-earnings ratio of 8.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The business had revenue of $73.57 million during the quarter, compared to analyst estimates of $60.00 million. Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. Equities research analysts predict that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 25th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Friday, April 25th. Old Second Bancorp’s payout ratio is 13.11%.

About Old Second Bancorp

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.