Knights of Columbus Asset Advisors LLC Trims Stock 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 cut its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 17.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alps Advisors Inc. lifted its position in Old Second Bancorp by 3.9% in the first quarter. Alps Advisors Inc. now owns 21,698 shares of the financial services provider's stock valued at $361,000 after acquiring an additional 808 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Old Second Bancorp by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider's stock valued at $441,000 after acquiring an additional 843 shares during the last quarter. Quarry LP lifted its position in Old Second Bancorp by 70.1% in the fourth quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 974 shares during the last quarter. Principal Financial Group Inc. lifted its position in Old Second Bancorp by 3.1% in the first quarter. Principal Financial Group Inc. now owns 36,434 shares of the financial services provider's stock valued at $606,000 after acquiring an additional 1,109 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Old Second Bancorp by 20.2% in the fourth quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider's stock valued at $134,000 after buying an additional 1,264 shares during the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

Old Second Bancorp Trading Up 0.4%

Shares of Old Second Bancorp stock opened at $17.85 on Friday. Old Second Bancorp, Inc. has a 52-week low of $14.14 and a 52-week 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. The company's 50-day simple moving average is $17.55 and its 200-day simple moving average is $17.25. The firm has a market cap of $804.32 million, a price-to-earnings ratio of 9.75 and a beta of 0.81.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share (EPS) 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 firm 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 year.

Old Second Bancorp Announces Dividend

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

Analysts Set New Price Targets

OSBC has been the subject of a number of research reports. DA Davidson upped their target price on shares of Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Friday. Keefe, Bruyette & Woods reduced their target price 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. Piper Sandler reaffirmed an "overweight" rating and issued a $24.50 target price (up from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. Wall Street Zen raised shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, 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 report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate 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.

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