Elizabeth Park Capital Advisors Ltd. Increases Stock Holdings in Old Second Bancorp, Inc. $OSBC

Key Points

• Elizabeth Park Capital Advisors Ltd. increased its holdings in Old Second Bancorp by 34.7% during the 1st quarter, now owning approximately $3.16 million worth of stock.
• Brokerages have responded positively, with Piper Sandler raising the price objective for Old Second Bancorp from $22.00 to $24.50 and DA Davidson adjusting theirs from $17.00 to $19.00.
• Old Second Bancorp recently reported a quarterly EPS of $0.48, missing the consensus estimate by $0.01, and declared a special dividend of $0.06 paid on August 4th.

Elizabeth Park Capital Advisors Ltd. boosted its position in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 34.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 189,750 shares of the financial services provider's stock after buying an additional 48,856 shares during the period. Old Second Bancorp makes up approximately 2.8% of Elizabeth Park Capital Advisors Ltd.'s investment portfolio, making the stock its 12th largest holding. Elizabeth Park Capital Advisors Ltd. owned 0.42% of Old Second Bancorp worth $3,157,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Alps Advisors Inc. boosted its position in Old Second Bancorp by 3.9% in 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 position in Old Second Bancorp by 3.5% in 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. Quarry LP boosted its position in Old Second Bancorp by 70.1% in the fourth quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock valued at $42,000 after buying an additional 974 shares during the last quarter. Principal Financial Group Inc. boosted its position in Old Second Bancorp by 3.1% in 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. Finally, Invesco Ltd. boosted its position in Old Second Bancorp by 1.8% in the fourth quarter. Invesco Ltd. now owns 77,897 shares of the financial services provider's stock valued at $1,385,000 after buying an additional 1,348 shares during the last quarter. Hedge funds and other institutional investors own 67.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on OSBC shares. Piper Sandler reiterated an "overweight" rating and issued a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. DA Davidson upped their price objective 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 upgraded Old Second Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Old Second Bancorp has a consensus rating of "Buy" and a consensus price target of $20.70.

Old Second Bancorp Stock Performance

Old Second Bancorp stock traded down $0.07 during mid-day trading on Monday, hitting $18.46. The company had a trading volume of 202,873 shares, compared to its average volume of 173,523. Old Second Bancorp, Inc. has a 12-month low of $14.14 and a 12-month high of $19.46. The company has a market capitalization of $971.92 million, a price-to-earnings ratio of 10.09 and a beta of 0.85. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. The company's fifty day moving average is $17.95 and its 200-day moving average is $17.06.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. Equities research analysts predict that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently announced 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 was Friday, July 25th. This represents a dividend yield of 130.0%. Old Second Bancorp's dividend payout ratio (DPR) is 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.