Nuveen LLC Buys Shares of 336,126 Old Second Bancorp, Inc. $OSBC

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 stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 336,126 shares of the financial services provider's stock, valued at approximately $5,593,000. Nuveen LLC owned 0.75% of Old Second Bancorp at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hudson Edge Investment Partners Inc. increased its position in Old Second Bancorp by 40.3% during the 1st quarter. Hudson Edge Investment Partners Inc. now owns 59,834 shares of the financial services provider's stock valued at $996,000 after purchasing an additional 17,201 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Old Second Bancorp by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider's stock valued at $441,000 after buying an additional 843 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Old Second Bancorp by 44.2% during the 4th quarter. Bank of America Corp DE now owns 236,062 shares of the financial services provider's stock valued at $4,197,000 after buying an additional 72,398 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Old Second Bancorp by 4,125.0% during the 1st quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock valued at $90,000 after buying an additional 5,280 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Old Second Bancorp by 108.3% during the 1st quarter. CWM LLC now owns 20,305 shares of the financial services provider's stock valued at $338,000 after buying an additional 10,559 shares in the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

Old Second Bancorp Stock Down 0.4%

Old Second Bancorp stock traded down $0.07 during mid-day trading on Friday, reaching $18.46. The stock had a trading volume of 202,873 shares, compared to its average volume of 223,355. The company has a market capitalization of $971.92 million, a price-to-earnings ratio of 10.09 and a beta of 0.80. The company has a 50-day moving average price of $17.91 and a two-hundred day moving average price of $17.09. Old Second Bancorp, Inc. has a one year low of $14.14 and a one year high of $19.46. 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 posted its earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $75.13 million for the quarter, compared to the consensus estimate of $63.58 million. Old Second Bancorp had a net margin of 24.38% and a return on equity of 12.53%. On average, analysts expect that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.