Empowered Funds LLC purchased a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 248,627 shares of the financial services provider’s stock, valued at approximately $5,798,000.
Other large investors have also bought and sold shares of the company. Harbour Investments Inc. bought a new position in Old Second Bancorp in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,215 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of Old Second Bancorp in the 4th quarter worth $27,000. Parkside Financial Bank & Trust acquired a new stake in shares of Old Second Bancorp during the fourth quarter worth $45,000. Finally, Clearstead Advisors LLC grew its stake in shares of Old Second Bancorp by 793.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 2,159 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
OSBC has been the topic of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research note on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. DA Davidson increased their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Raymond James Financial started coverage on shares of Old Second Bancorp in a research note on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, Zacks Research upgraded shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Old Second Bancorp has a consensus rating of “Buy” and a consensus target price of $25.40.
Insider Activity
In related news, CEO James Eccher sold 55,687 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $25.46, for a total value of $1,417,791.02. Following the completion of the transaction, the chief executive officer directly owned 322,712 shares in the company, valued at approximately $8,216,247.52. The trade was a 14.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.60% of the company’s stock.
Old Second Bancorp Stock Performance
Shares of Old Second Bancorp stock opened at $25.24 on Monday. The stock’s fifty day simple moving average is $24.33 and its 200 day simple moving average is $21.98. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.28 billion, a PE ratio of 14.51 and a beta of 0.70. Old Second Bancorp, Inc. has a 12 month low of $16.65 and a 12 month high of $26.06.
Old Second Bancorp (NASDAQ:OSBC – Get Free Report) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. On average, research analysts predict that Old Second Bancorp, Inc. will post 2.2 EPS for the current year.
Old Second Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 31st were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, July 31st. Old Second Bancorp’s payout ratio is 16.09%.
Old Second Bancorp Company Profile
Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.
In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.
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