Adage Capital Partners GP L.L.C. Grows Stock Position in Old Second Bancorp, Inc. $OSBC

Adage Capital Partners GP L.L.C. increased its position in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 42.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the financial services provider's stock after purchasing 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.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 5,280 shares in the last quarter. Quarry LP boosted its stake in Old Second Bancorp by 145.5% in the 1st quarter. Quarry LP now owns 5,802 shares of the financial services provider's stock worth $97,000 after purchasing an additional 3,439 shares in the last quarter. PharVision Advisers LLC bought a new position in Old Second Bancorp in the 4th quarter worth about $178,000. Quantbot Technologies LP boosted its stake in Old Second Bancorp by 50.4% in the 1st quarter. Quantbot Technologies LP now owns 11,322 shares of the financial services provider's stock worth $188,000 after purchasing an additional 3,794 shares in the last quarter. Finally, Avantax Advisory Services Inc. bought a new position in Old Second Bancorp in the 1st quarter worth about $193,000. Institutional investors own 67.76% of the company's stock.

Wall Street Analyst Weigh In

OSBC has been the topic of several research analyst reports. 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. 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 research note on Wednesday, July 2nd. Finally, DA Davidson upped their target price 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. One 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $20.70.

Old Second Bancorp Stock Performance

Shares of NASDAQ OSBC traded down $0.13 during midday trading on Friday, hitting $18.26. 193,755 shares of the company's stock traded hands, compared to its average volume of 190,922. Old Second Bancorp, Inc. has a 1 year low of $14.14 and a 1 year high of $19.46. The stock has a market capitalization of $961.39 million, a price-to-earnings ratio of 9.98 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. The firm has a fifty day moving average of $18.03 and a 200 day moving average of $17.06.

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

Old Second Bancorp Dividend Announcement

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