AlphaQuest LLC Cuts Stake in Old Second Bancorp, Inc. $OSBC

AlphaQuest LLC reduced its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 13.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,988 shares of the financial services provider’s stock after selling 6,684 shares during the period. AlphaQuest LLC owned approximately 0.10% of Old Second Bancorp worth $763,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of OSBC. Strs Ohio purchased a new stake in shares of Old Second Bancorp in the first quarter worth $88,000. Quarry LP grew its stake in shares of Old Second Bancorp by 145.5% in the first quarter. Quarry LP now owns 5,802 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 3,439 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Old Second Bancorp by 50.4% in the first quarter. Quantbot Technologies LP now owns 11,322 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 3,794 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Old Second Bancorp during the first quarter valued at $193,000. Finally, Dakota Wealth Management bought a new position in shares of Old Second Bancorp during the first quarter valued at $200,000. 67.76% of the stock is owned by hedge funds and other institutional investors.

Old Second Bancorp Stock Up 3.9%

OSBC stock opened at $18.56 on Monday. Old Second Bancorp, Inc. has a fifty-two week low of $14.14 and a fifty-two week high of $19.46. The business’s 50-day moving average is $17.87 and its two-hundred day moving average is $17.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $977.18 million, a price-to-earnings ratio of 12.29 and a beta of 0.80.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. Old Second Bancorp had a return on equity of 13.10% and a net margin of 18.89%.The company had revenue of $95.88 million for the quarter, compared to the consensus estimate of $80.45 million. As a group, analysts forecast that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 31st will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Old Second Bancorp’s dividend payout ratio is currently 18.54%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. DA Davidson upped their price target on Old Second Bancorp from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Piper Sandler reaffirmed an “overweight” rating and set a $24.50 price target (up from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price target on Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $21.63.

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.