Old Second Bancorp, Inc. $OSBC Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Old Second Bancorp by 129.6%, owning 29,663 shares after purchasing an additional 16,742 shares in the 1st quarter.
• Old Second Bancorp recently announced a special dividend of $0.06 per share, resulting in a dividend yield of 130.0%.
• Analysts have set a new average price target for Old Second Bancorp at $20.70, with several firms upgrading their ratings on the stock.

Ieq Capital LLC grew its position in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 129.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,663 shares of the financial services provider's stock after acquiring an additional 16,742 shares during the quarter. Ieq Capital LLC owned about 0.07% of Old Second Bancorp worth $494,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Old Second Bancorp by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,711,390 shares of the financial services provider's stock valued at $45,118,000 after acquiring an additional 73,672 shares during the period. American Century Companies Inc. boosted its holdings in shares of Old Second Bancorp by 9.7% in the first quarter. American Century Companies Inc. now owns 1,139,741 shares of the financial services provider's stock valued at $18,965,000 after acquiring an additional 101,246 shares during the period. Stieven Capital Advisors L.P. boosted its holdings in shares of Old Second Bancorp by 74.3% in the first quarter. Stieven Capital Advisors L.P. now owns 716,228 shares of the financial services provider's stock valued at $11,918,000 after acquiring an additional 305,420 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Old Second Bancorp by 26.8% in the fourth quarter. AQR Capital Management LLC now owns 404,975 shares of the financial services provider's stock valued at $7,200,000 after acquiring an additional 85,529 shares during the period. Finally, Jacobs Asset Management LLC raised its stake in shares of Old Second Bancorp by 25.6% during the first quarter. Jacobs Asset Management LLC now owns 403,373 shares of the financial services provider's stock worth $6,712,000 after purchasing an additional 82,218 shares during the last quarter. 67.76% of the stock is owned by institutional investors and hedge funds.

Old Second Bancorp Price Performance

NASDAQ:OSBC traded down $0.33 during trading hours on Friday, hitting $18.43. The company's stock had a trading volume of 259,467 shares, compared to its average volume of 171,974. The business's 50-day moving average is $18.06 and its two-hundred day moving average is $17.05. The company has a market capitalization of $970.34 million, a PE ratio of 10.07 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. Old Second Bancorp, Inc. has a 52-week low of $14.14 and a 52-week high of $19.46.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $75.13 million during the quarter, compared to analysts' expectations of $63.58 million. Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%. As a group, research analysts anticipate that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler restated an "overweight" rating and set a $24.50 price target (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. DA Davidson upped their price target on Old Second Bancorp from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Wall Street Zen upgraded Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One 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 company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $20.70.

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.