FJ Capital Management LLC Purchases 15,108 Shares of Old Second Bancorp, Inc. $OSBC

Key Points

• FJ Capital Management LLC raised its stake in Old Second Bancorp by 0.8%, now owning approximately 4.02% of the company valued at $30.13 million.
• Old Second Bancorp reported earnings of $0.48 EPS for the last quarter, slightly missing analysts' expectations of $0.49, but exceeded revenue projections with $75.13 million.
• The company declared a special dividend of $0.06, resulting in a dividend yield of 130.0%, with a payout ratio of 13.11%.

FJ Capital Management LLC grew its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,810,720 shares of the financial services provider's stock after purchasing an additional 15,108 shares during the quarter. Old Second Bancorp accounts for 3.1% of FJ Capital Management LLC's portfolio, making the stock its 8th largest position. FJ Capital Management LLC owned about 4.02% of Old Second Bancorp worth $30,130,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in shares of Old Second Bancorp by 25.9% in the 4th quarter. Wells Fargo & Company MN now owns 27,075 shares of the financial services provider's stock worth $481,000 after acquiring an additional 5,570 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Old Second Bancorp by 10.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 20,364 shares of the financial services provider's stock worth $362,000 after acquiring an additional 1,955 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Old Second Bancorp in the 4th quarter worth $459,000. Dimensional Fund Advisors LP grew its position in Old Second Bancorp by 7.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,019,433 shares of the financial services provider's stock worth $35,906,000 after purchasing an additional 134,455 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Old Second Bancorp by 8.7% during the 4th quarter. MetLife Investment Management LLC now owns 26,011 shares of the financial services provider's stock worth $462,000 after purchasing an additional 2,071 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Old Second Bancorp Stock Up 0.2%

Shares of NASDAQ:OSBC traded up $0.04 during midday trading on Wednesday, reaching $18.48. The company had a trading volume of 247,170 shares, compared to its average volume of 163,404. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12. The business's 50 day moving average price is $18.02 and its 200 day moving average price is $17.08. The stock has a market cap of $972.97 million, a PE ratio of 10.10 and a beta of 0.85. 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 announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). The business had revenue of $75.13 million for the quarter, compared to analyst estimates of $63.58 million. Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%. Research analysts forecast that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently disclosed a special dividend, which was paid on Monday, August 4th. Shareholders 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 payout ratio 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.