Knights of Columbus Asset Advisors LLC Reduces Position in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Key Points

• Knights of Columbus Asset Advisors LLC has reduced its ownership in Old Second Bancorp by 17.2%, now holding approximately 134,484 shares valued at $2,238,000.
• Old Second Bancorp recently reported a quarterly earnings per share (EPS) of $0.48, falling short of analysts' expectations of $0.49, despite generating revenues of $75.13 million for the quarter.
• The company declared a special dividend of $0.06 per share, with a dividend yield of 1.3%, scheduled for payment on August 4th.

Knights of Columbus Asset Advisors LLC lowered its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 17.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,484 shares of the financial services provider's stock after selling 27,871 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.30% of Old Second Bancorp worth $2,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Boothbay Fund Management LLC purchased a new position in shares of Old Second Bancorp in the 4th quarter valued at about $6,084,000. Stieven Capital Advisors L.P. increased its holdings in shares of Old Second Bancorp by 74.3% in the 1st 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 last quarter. Millennium Management LLC increased its holdings in shares of Old Second Bancorp by 452.4% in the 4th quarter. Millennium Management LLC now owns 308,223 shares of the financial services provider's stock valued at $5,480,000 after acquiring an additional 252,430 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Old Second Bancorp by 188.2% in the 4th quarter. Nuveen Asset Management LLC now owns 281,572 shares of the financial services provider's stock valued at $5,006,000 after acquiring an additional 183,869 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Old Second Bancorp by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,637,718 shares of the financial services provider's stock valued at $46,899,000 after acquiring an additional 181,783 shares during the last quarter. Institutional investors and hedge funds own 67.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler reiterated an "overweight" rating and issued a $24.50 price objective (up previously from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. DA Davidson raised 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. Wall Street Zen upgraded Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Stephens dropped their price target on Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods dropped their price target on Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Second Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.70.

Old Second Bancorp Stock Performance

NASDAQ:OSBC traded up $0.06 during mid-day trading on Wednesday, reaching $17.67. 61,432 shares of the stock were exchanged, compared to its average volume of 228,238. The company has a 50 day simple moving average of $17.57 and a 200-day simple moving average of $17.25. The stock has a market capitalization of $796.14 million, a P/E ratio of 9.66 and a beta of 0.81. 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, 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 posted its quarterly earnings data 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). Old Second Bancorp had a return on equity of 12.73% and a net margin of 24.38%. The company had revenue of $75.13 million for the quarter, compared to analyst estimates of $63.58 million. Analysts anticipate that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Monday, August 4th. Investors of record on Friday, July 25th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, July 25th. This represents a yield of 1.3%. Old Second Bancorp's dividend payout ratio is presently 13.11%.

Old Second Bancorp Company 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.