336,126 Shares in Old Second Bancorp, Inc. $OSBC Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired a new stake in Old Second Bancorp, purchasing 336,126 shares valued at approximately $5.6 million, representing about 0.75% ownership of the company.
• Old Second Bancorp's stock received a consensus rating of "Buy" with a target price of $20.70, following various analysts' upgrades, including Piper Sandler raising its target price from $22.00 to $24.50.
• The company announced a special dividend of $0.06 per share, with a significant yield of 130.0%, reflecting strong financial performance despite missing EPS estimates by $0.01 in the latest quarter.

Nuveen LLC acquired a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 336,126 shares of the financial services provider's stock, valued at approximately $5,593,000. Nuveen LLC owned approximately 0.75% of Old Second Bancorp as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wells Fargo & Company MN increased its holdings in shares of Old Second Bancorp by 25.9% during the 4th quarter. Wells Fargo & Company MN now owns 27,075 shares of the financial services provider's stock worth $481,000 after acquiring an additional 5,570 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Old Second Bancorp by 10.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 20,364 shares of the financial services provider's stock worth $362,000 after acquiring an additional 1,955 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Old Second Bancorp by 1.8% during the 4th quarter. Invesco Ltd. now owns 77,897 shares of the financial services provider's stock worth $1,385,000 after acquiring an additional 1,348 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Old Second Bancorp during the 4th quarter worth approximately $459,000. Finally, Barclays PLC increased its holdings in shares of Old Second Bancorp by 8.6% during the 4th quarter. Barclays PLC now owns 126,644 shares of the financial services provider's stock worth $2,251,000 after acquiring an additional 10,062 shares during the last quarter. Institutional investors own 67.76% of the company's stock.

Old Second Bancorp Price Performance

Shares of NASDAQ:OSBC traded down $0.07 during trading on Friday, reaching $18.46. 202,873 shares of the company traded hands, compared to its average volume of 173,523. The company's 50 day moving average is $17.95 and its two-hundred day moving average is $17.06. The firm has a market capitalization of $971.92 million, a PE ratio of 10.09 and a beta of 0.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12. Old Second Bancorp, Inc. has a 52 week low of $14.14 and a 52 week high of $19.46.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%.The business had revenue of $75.13 million for the quarter, compared to the consensus estimate of $63.58 million. As a group, sell-side analysts predict that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Monday, August 4th. Investors of record on Friday, July 25th were given a dividend of $0.06 per share. This represents a dividend yield of 130.0%. The ex-dividend date was Friday, July 25th. Old Second Bancorp's dividend payout ratio is currently 13.11%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wall Street Zen raised Old Second Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. DA Davidson upped their price objective on Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Piper Sandler reiterated an "overweight" rating and set a $24.50 target price (up from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Old Second Bancorp currently has an average rating of "Buy" and a consensus price target of $20.70.

Old Second Bancorp 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.