Hudson Edge Investment Partners Inc. Boosts Stake in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Hudson Edge Investment Partners Inc. raised its position in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 40.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,834 shares of the financial services provider's stock after buying an additional 17,201 shares during the period. Hudson Edge Investment Partners Inc. owned 0.13% of Old Second Bancorp worth $996,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OSBC. Rhumbline Advisers grew its position in shares of Old Second Bancorp by 3.0% during the 4th quarter. Rhumbline Advisers now owns 71,545 shares of the financial services provider's stock valued at $1,272,000 after acquiring an additional 2,099 shares during the period. Principal Financial Group Inc. grew its position in shares of Old Second Bancorp by 9.6% during the 4th quarter. Principal Financial Group Inc. now owns 35,325 shares of the financial services provider's stock valued at $628,000 after acquiring an additional 3,082 shares during the period. New York State Common Retirement Fund grew its position in shares of Old Second Bancorp by 15.1% during the 4th quarter. New York State Common Retirement Fund now owns 11,466 shares of the financial services provider's stock valued at $204,000 after acquiring an additional 1,500 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Old Second Bancorp by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,480 shares of the financial services provider's stock valued at $6,516,000 after acquiring an additional 8,134 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Old Second Bancorp by 29.4% during the 4th quarter. Victory Capital Management Inc. now owns 26,632 shares of the financial services provider's stock valued at $474,000 after acquiring an additional 6,049 shares during the period. Hedge funds and other institutional investors own 67.76% of the company's stock.

Old Second Bancorp Stock Performance

OSBC traded up $0.18 on Friday, hitting $19.08. The company's stock had a trading volume of 287,070 shares, compared to its average volume of 258,859. The company's 50 day simple moving average is $16.93 and its 200-day simple moving average is $17.16. The firm has a market cap of $859.74 million, a P/E ratio of 10.43 and a beta of 0.81. Old Second Bancorp, Inc. has a 12 month low of $14.14 and a 12 month high of $19.46. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). Old Second Bancorp had a return on equity of 12.87% and a net margin of 24.52%. The business had revenue of $73.57 million during the quarter, compared to the consensus estimate of $60.00 million. Analysts forecast 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 quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, April 25th. Old Second Bancorp's payout ratio is 13.11%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OSBC. Piper Sandler reissued an "overweight" rating and set a $24.50 target price (up from $22.00) on shares of Old Second Bancorp in a research report on Wednesday. Stephens reduced their target price on shares of Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Wall Street Zen downgraded shares of Old Second Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 28th. Finally, Keefe, Bruyette & Woods cut 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 report on Friday, April 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.

About Old Second Bancorp

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.