Martingale Asset Management L P Purchases New Shares in Old Second Bancorp, Inc. $OSBC

Key Points

• Martingale Asset Management L P has acquired a new stake in Old Second Bancorp, purchasing 103,359 shares valued at approximately $1.72 million during the 1st quarter.
• Analysts have upgraded their ratings on Old Second Bancorp, with DA Davidson raising the target price to $19.00 and Piper Sandler increasing it to $24.50, indicating a positive outlook for the stock.
• Old Second Bancorp recently declared a special dividend of $0.06 per share, reflecting a high dividend yield of 130.0%, with a payout ratio of 13.11%.

Martingale Asset Management L P bought a new stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 103,359 shares of the financial services provider's stock, valued at approximately $1,720,000. Martingale Asset Management L P owned about 0.23% of Old Second Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in OSBC. Quarry LP grew its stake in shares of Old Second Bancorp by 70.1% during the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock worth $42,000 after acquiring an additional 974 shares during the period. GAMMA Investing LLC grew its stake in shares of Old Second Bancorp by 4,125.0% during the 1st quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock worth $90,000 after acquiring an additional 5,280 shares during the period. Aquatic Capital Management LLC grew its stake in shares of Old Second Bancorp by 47.3% during the 4th quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider's stock worth $141,000 after acquiring an additional 2,556 shares during the period. PharVision Advisers LLC bought a new position in shares of Old Second Bancorp during the 4th quarter worth $178,000. Finally, Quantbot Technologies LP grew its stake in shares of Old Second Bancorp by 50.4% during the 1st quarter. Quantbot Technologies LP now owns 11,322 shares of the financial services provider's stock worth $188,000 after acquiring an additional 3,794 shares during the period. Institutional investors own 67.76% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on OSBC. Wall Street Zen upgraded Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Piper Sandler reiterated 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. Finally, DA Davidson increased 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $20.70.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC traded up $0.02 during trading hours on Friday, reaching $18.55. 47,977 shares of the stock traded hands, compared to its average volume of 222,325. The company has a market capitalization of $976.60 million, a P/E ratio of 10.12 and a beta of 0.80. 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 52-week low of $14.14 and a 52-week high of $19.46. The company's 50-day simple moving average is $17.91 and its two-hundred day simple moving average is $17.09.

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 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). The company 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%. Equities research analysts forecast that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Monday, August 4th. Stockholders of record on Friday, July 25th were given a $0.06 dividend. This represents a dividend yield of 130.0%. The ex-dividend date was Friday, July 25th. Old Second Bancorp's dividend payout ratio (DPR) is currently 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.