Y Intercept Hong Kong Ltd Acquires Shares of 33,537 Old Second Bancorp, Inc. (NASDAQ:OSBC)

Key Points

• Y Intercept Hong Kong Ltd acquired 33,537 shares of Old Second Bancorp, Inc. (NASDAQ:OSBC), valued at approximately $558,000, during the first quarter.
• Research analysts have revised price targets for Old Second Bancorp, with Keefe, Bruyette & Woods reducing their target from $24.00 to $22.00 while Piper Sandler increased theirs from $22.00 to $24.50.
• Old Second Bancorp reported a special dividend of $0.06 per share, with a yield of 1.3%, to be paid on August 4, 2023; the ex-dividend date is July 25, 2023.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 33,537 shares of the financial services provider's stock, valued at approximately $558,000. Y Intercept Hong Kong Ltd owned 0.07% of Old Second Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of OSBC. Quarry LP grew its holdings in Old Second Bancorp by 70.1% during the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock worth $42,000 after acquiring an additional 974 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Old Second Bancorp by 4,125.0% in the 1st quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock worth $90,000 after buying an additional 5,280 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of Old Second Bancorp by 20.2% in the 4th quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider's stock worth $134,000 after buying an additional 1,264 shares during the last quarter. Aquatic Capital Management LLC lifted its position in shares of Old Second Bancorp by 47.3% in the 4th quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider's stock worth $141,000 after buying an additional 2,556 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Old Second Bancorp in the 4th quarter worth about $162,000. Hedge funds and other institutional investors own 67.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods dropped their price objective on shares of Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. DA Davidson increased their price objective on shares of Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Stephens dropped their price objective on shares of 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. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.70.

Old Second Bancorp Stock Down 1.2%

Shares of OSBC traded down $0.20 during mid-day trading on Thursday, hitting $17.08. 62,453 shares of the company's stock were exchanged, compared to its average volume of 228,662. The company has a market cap of $769.62 million, a PE ratio of 9.33 and a beta of 0.81. Old Second Bancorp, Inc. has a 52 week low of $14.14 and a 52 week high of $19.46. The company has a 50-day simple moving average of $17.58 and a 200 day simple moving average of $17.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.85 and a quick ratio of 0.85.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). The firm had revenue of $75.13 million for the quarter, compared to analyst estimates of $63.58 million. Old Second Bancorp had a net margin of 24.38% and a return on equity of 12.73%. On average, research analysts forecast that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently declared a special dividend, which will be paid on Monday, August 4th. Investors of record on Friday, July 25th will be issued a $0.06 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 25th. Old Second Bancorp's dividend payout ratio (DPR) is currently 13.11%.

Old Second Bancorp Company Profile

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.