Jacobs Levy Equity Management Inc. Makes New Investment in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Jacobs Levy Equity Management Inc. acquired a new stake in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,100 shares of the financial services provider's stock, valued at approximately $268,000.

Several other hedge funds also recently bought and sold shares of OSBC. Deutsche Bank AG raised its position in shares of Old Second Bancorp by 52.5% in the fourth quarter. Deutsche Bank AG now owns 41,005 shares of the financial services provider's stock valued at $729,000 after buying an additional 14,113 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Old Second Bancorp by 52.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 48,823 shares of the financial services provider's stock valued at $868,000 after acquiring an additional 16,756 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Old Second Bancorp by 50.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 372,120 shares of the financial services provider's stock worth $6,616,000 after purchasing an additional 124,336 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Old Second Bancorp during the 4th quarter worth $813,000. Finally, Bank of America Corp DE boosted its holdings in shares of Old Second Bancorp by 44.2% during the fourth quarter. Bank of America Corp DE now owns 236,062 shares of the financial services provider's stock worth $4,197,000 after purchasing an additional 72,398 shares during the last quarter. Hedge funds and other institutional investors own 67.76% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on OSBC. Stephens dropped their target price on Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Keefe, Bruyette & Woods dropped 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 research note on Friday, April 25th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $20.10.

Old Second Bancorp Trading Down 2.2%

Shares of OSBC stock traded down $0.38 on Wednesday, reaching $16.65. 225,249 shares of the stock were exchanged, compared to its average volume of 255,747. The stock has a market cap of $750.18 million, a P/E ratio of 8.90 and a beta of 0.78. Old Second Bancorp, Inc. has a 1-year low of $13.38 and a 1-year high of $19.46. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $16.04 and a two-hundred day moving average of $17.44.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. The company had revenue of $73.57 million during the quarter, compared to analyst estimates of $60.00 million. On average, research analysts anticipate that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.24 annualized dividend and a dividend yield of 1.44%. Old Second Bancorp's dividend payout ratio is currently 13.11%.

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.