Adage Capital Partners GP L.L.C. Acquires 30,013 Shares of Old Second Bancorp, Inc. $OSBC

Adage Capital Partners GP L.L.C. lifted its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 42.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the financial services provider's stock after buying an additional 30,013 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.22% of Old Second Bancorp worth $1,664,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. FJ Capital Management LLC boosted its position in shares of Old Second Bancorp by 0.8% during the first quarter. FJ Capital Management LLC now owns 1,810,720 shares of the financial services provider's stock valued at $30,130,000 after buying an additional 15,108 shares during the last quarter. Quarry LP boosted its position in shares of Old Second Bancorp by 145.5% during the first quarter. Quarry LP now owns 5,802 shares of the financial services provider's stock valued at $97,000 after buying an additional 3,439 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Old Second Bancorp by 0.8% in the first quarter. The Manufacturers Life Insurance Company now owns 954,275 shares of the financial services provider's stock worth $15,879,000 after purchasing an additional 7,337 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. boosted its position in Old Second Bancorp by 34.7% in the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 189,750 shares of the financial services provider's stock worth $3,157,000 after purchasing an additional 48,856 shares during the last quarter. Finally, Ieq Capital LLC boosted its position in Old Second Bancorp by 129.6% in the first quarter. Ieq Capital LLC now owns 29,663 shares of the financial services provider's stock worth $494,000 after purchasing an additional 16,742 shares during the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OSBC has been the topic of several research reports. Piper Sandler reissued an "overweight" rating and issued a $24.50 target price (up from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. DA Davidson raised their target price on Old Second Bancorp from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Wall Street Zen raised Old Second Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $20.70.

Old Second Bancorp Price Performance

Shares of Old Second Bancorp stock traded up $0.03 on Wednesday, hitting $18.29. 207,090 shares of the company traded hands, compared to its average volume of 185,694. The stock has a market capitalization of $962.97 million, a P/E ratio of 9.99 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. Old Second Bancorp, Inc. has a 52 week low of $14.14 and a 52 week high of $19.46. The business has a 50-day simple moving average of $18.06 and a 200 day simple moving average of $17.07.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings data 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%. Research analysts expect that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

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

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.