Elizabeth Park Capital Advisors Ltd. Has $3.16 Million 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. lifted its holdings in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 34.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,750 shares of the financial services provider's stock after acquiring an additional 48,856 shares during the quarter. Old Second Bancorp makes up approximately 2.8% of Elizabeth Park Capital Advisors Ltd.'s holdings, making the stock its 12th largest holding. Elizabeth Park Capital Advisors Ltd. owned about 0.42% of Old Second Bancorp worth $3,157,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Alps Advisors Inc. boosted its holdings in shares of Old Second Bancorp by 3.9% in the 1st quarter. Alps Advisors Inc. now owns 21,698 shares of the financial services provider's stock worth $361,000 after acquiring an additional 808 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Old Second Bancorp by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider's stock worth $441,000 after acquiring an additional 843 shares in the last quarter. Quarry LP boosted its holdings in shares of Old Second Bancorp by 70.1% in the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock worth $42,000 after acquiring an additional 974 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Old Second Bancorp by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 36,434 shares of the financial services provider's stock worth $606,000 after acquiring an additional 1,109 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Old Second Bancorp by 1.8% in the 4th 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. 67.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OSBC. DA Davidson increased their price objective on Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Piper Sandler reiterated an "overweight" rating and issued a $24.50 price objective (up from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. 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 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. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $20.70.

Old Second Bancorp Stock Performance

Shares of Old Second Bancorp stock opened at $18.40 on Wednesday. The company has a market capitalization of $968.76 million, a PE ratio of 10.05 and a beta of 0.80. Old Second Bancorp, Inc. has a 12 month low of $14.14 and a 12 month high of $19.46. 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 stock's fifty day simple moving average is $17.84 and its 200 day simple moving average is $17.08.

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 earnings per share (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 firm had revenue of $75.13 million during the quarter, compared to analyst estimates of $63.58 million. On average, research analysts predict that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The company also recently declared a special dividend, which was paid on Monday, August 4th. Shareholders of record on Friday, July 25th were paid a $0.06 dividend. 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 (DPR) is currently 13.11%.

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.

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