Bank of America Corp DE Boosts Stock Holdings in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Bank of America Corp DE raised its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 44.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 236,062 shares of the financial services provider's stock after buying an additional 72,398 shares during the period. Bank of America Corp DE owned about 0.53% of Old Second Bancorp worth $4,197,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Old Second Bancorp by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 2,637,718 shares of the financial services provider's stock valued at $46,899,000 after buying an additional 181,783 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Old Second Bancorp by 7.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,019,433 shares of the financial services provider's stock valued at $35,906,000 after acquiring an additional 134,455 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Old Second Bancorp by 10.5% during the fourth quarter. American Century Companies Inc. now owns 1,038,495 shares of the financial services provider's stock valued at $18,464,000 after acquiring an additional 98,617 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Old Second Bancorp by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,034,709 shares of the financial services provider's stock valued at $18,402,000 after acquiring an additional 5,224 shares during the last quarter. Finally, Stieven Capital Advisors L.P. raised its stake in shares of Old Second Bancorp by 6.6% during the fourth quarter. Stieven Capital Advisors L.P. now owns 410,808 shares of the financial services provider's stock valued at $7,304,000 after acquiring an additional 25,400 shares during the last quarter. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Trading Up 1.2%

OSBC stock traded up $0.20 during trading on Tuesday, reaching $16.67. The company had a trading volume of 185,642 shares, compared to its average volume of 255,684. Old Second Bancorp, Inc. has a 52 week low of $13.38 and a 52 week high of $19.46. The company has a market cap of $751.08 million, a P/E ratio of 8.91 and a beta of 0.78. The business has a 50 day moving average of $15.99 and a 200 day moving average of $17.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. The business had revenue of $73.57 million for the quarter, compared to the consensus estimate of $60.00 million. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, April 25th. Old Second Bancorp's payout ratio is 13.11%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Stephens lowered their price objective on shares of Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Keefe, Bruyette & Woods lowered their price objective on shares of Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $20.10.

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.