AQR Capital Management LLC Purchases 135,971 Shares of Old Second Bancorp, Inc. $OSBC

Key Points

• AQR Capital Management LLC increased its holdings in Old Second Bancorp, Inc. by 33.6%, acquiring an additional 135,971 shares for a total of 540,946 shares, valued at approximately $9 million.
• Old Second Bancorp recently reported earnings of $0.48 per share, falling short of the consensus estimate of $0.49, but surpassed revenue expectations with $75.13 million in revenue.
• The company declared a special dividend of $0.06 per share, resulting in a significant dividend yield of 130.0%.

AQR Capital Management LLC boosted its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 33.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 540,946 shares of the financial services provider's stock after buying an additional 135,971 shares during the period. AQR Capital Management LLC owned approximately 1.20% of Old Second Bancorp worth $9,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in Old Second Bancorp by 3.9% during the first quarter. Alps Advisors Inc. now owns 21,698 shares of the financial services provider's stock valued at $361,000 after buying an additional 808 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Old Second Bancorp by 3.5% during the fourth 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 during the last quarter. Principal Financial Group Inc. boosted its stake in Old Second Bancorp by 3.1% during the first quarter. Principal Financial Group Inc. now owns 36,434 shares of the financial services provider's stock valued at $606,000 after buying an additional 1,109 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Old Second Bancorp by 6.4% during the fourth quarter. Squarepoint Ops LLC now owns 22,703 shares of the financial services provider's stock valued at $404,000 after buying an additional 1,363 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Old Second Bancorp by 13.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,165 shares of the financial services provider's stock valued at $395,000 after buying an additional 2,631 shares during the last quarter. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Stock Performance

Old Second Bancorp stock opened at $18.29 on Thursday. 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, Inc. has a 1-year low of $14.14 and a 1-year high of $19.46. The firm has a market capitalization of $962.97 million, a P/E ratio of 9.99 and a beta of 0.85. The company's 50-day moving average is $18.06 and its 200 day moving average is $17.07.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $63.58 million. Research analysts forecast that Old Second Bancorp, Inc. will post 1.86 EPS 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 issued a $0.06 dividend. This represents a dividend yield of 130.0%. The ex-dividend date was Friday, July 25th. Old Second Bancorp's dividend payout ratio is presently 13.11%.

Wall Street Analysts Forecast Growth

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

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.

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