Old Second Bancorp, Inc. $OSBC Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC reduced its stock holdings in Old Second Bancorp by 45.7%, selling 22,309 shares and retaining 26,514 shares valued at $441,000.
• In contrast, other hedge funds significantly increased their positions in Old Second Bancorp, with GAMMA Investing LLC raising its holdings by 4,125.0% and Quarry LP increasing theirs by 145.5% in the first quarter.
• Old Second Bancorp reported a quarterly earnings per share of $0.48, slightly below the consensus estimate of $0.49, and announced a special dividend of $0.06, yielding 130.0%.

Cubist Systematic Strategies LLC lowered its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 45.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,514 shares of the financial services provider's stock after selling 22,309 shares during the period. Cubist Systematic Strategies LLC owned 0.06% of Old Second Bancorp worth $441,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Old Second Bancorp by 4,125.0% in the first quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock worth $90,000 after buying an additional 5,280 shares during the last quarter. Quarry LP raised its holdings in shares of Old Second Bancorp by 145.5% in the first quarter. Quarry LP now owns 5,802 shares of the financial services provider's stock worth $97,000 after buying an additional 3,439 shares during the last quarter. PharVision Advisers LLC purchased a new position in shares of Old Second Bancorp in the fourth quarter worth $178,000. Quantbot Technologies LP raised its holdings in shares of Old Second Bancorp by 50.4% in the first quarter. Quantbot Technologies LP now owns 11,322 shares of the financial services provider's stock worth $188,000 after buying an additional 3,794 shares during the last quarter. Finally, Avantax Advisory Services Inc. purchased a new position in shares of Old Second Bancorp in the first quarter worth $193,000. Hedge funds and other institutional investors own 67.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $24.50 price target (up previously from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. Wall Street Zen raised shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, DA Davidson raised their target price on shares of Old Second Bancorp from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. One equities 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $20.70.

Old Second Bancorp Stock Performance

OSBC stock traded down $0.22 during midday trading on Tuesday, hitting $17.82. 185,010 shares of the stock traded hands, compared to its average volume of 194,263. The firm has a market cap of $938.22 million, a P/E ratio of 9.74 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.85 and a quick ratio of 0.85. The stock's fifty day simple moving average is $17.99 and its 200-day simple moving average is $17.06. Old Second Bancorp, Inc. has a 1-year low of $14.14 and a 1-year high of $19.46.

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). The firm had revenue of $75.13 million for the quarter, compared to analyst estimates 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 earnings per share for the current year.

Old Second Bancorp Announces Dividend

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