17,742 Shares in Old Second Bancorp, Inc. (NASDAQ:OSBC) Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. acquired 17,742 shares of Old Second Bancorp, valued at approximately $295,000, enhancing the company's institutional ownership, which currently stands at 67.76%.
• Analysts have set varied price targets for Old Second Bancorp, with Piper Sandler projecting a price of $24.50, while DA Davidson has increased their target from $17.00 to $19.00, reflecting differing outlooks on the stock's potential.
• Old Second Bancorp recently declared a special dividend of $0.06, yielding approximately 130.0%, with a payout ratio of 13.11%, signaling robust financial health amidst rising institutional interest.

Jupiter Asset Management Ltd. bought a new stake in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,742 shares of the financial services provider's stock, valued at approximately $295,000.

Other large investors have also recently bought and sold shares of the company. XTX Topco Ltd lifted its position in shares of Old Second Bancorp by 29.2% in the first quarter. XTX Topco Ltd now owns 15,541 shares of the financial services provider's stock worth $259,000 after purchasing an additional 3,509 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in Old Second Bancorp in the 1st quarter valued at $193,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Old Second Bancorp during the 1st quarter worth about $201,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Old Second Bancorp during the 1st quarter worth about $558,000. Finally, Bailard Inc. bought a new position in shares of Old Second Bancorp in the 1st quarter valued at about $702,000. Institutional investors and hedge funds own 67.76% of the company's stock.

Analyst Upgrades and Downgrades

OSBC has been the topic of a number of recent research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. DA Davidson boosted their price target on Old Second Bancorp from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Stephens cut their price objective on Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Wall Street Zen upgraded shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.70.

Old Second Bancorp Stock Performance

Shares of OSBC traded up $0.23 during mid-day trading on Friday, reaching $16.79. The company's stock had a trading volume of 41,222 shares, compared to its average volume of 228,031. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. Old Second Bancorp, Inc. has a 1-year low of $14.14 and a 1-year high of $19.46. The business has a 50-day simple moving average of $17.61 and a two-hundred day simple moving average of $17.20. The stock has a market cap of $756.45 million, a P/E ratio of 9.17 and a beta of 0.80.

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 (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 12.73%. The business had revenue of $75.13 million for the quarter, compared to analyst estimates of $63.58 million. As a group, equities research analysts anticipate that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently announced a special dividend, which was paid on Monday, August 4th. Investors of record on Friday, July 25th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a dividend yield of 130.0%. Old Second Bancorp's payout ratio is presently 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.