Old Second Bancorp, Inc. $OSBC Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its holdings in Old Second Bancorp by 28.5% in the first quarter, ending with 37,828 shares worth $629,000.
• The company reported $0.48 EPS for the quarter, missing estimates by $0.01, with revenues of $75.13 million beating expectations of $63.58 million.
• Old Second Bancorp announced a special dividend of $0.06 per share, reflecting a 130.0% dividend yield and a payout ratio of 13.11%.

Rafferty Asset Management LLC decreased its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 28.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,828 shares of the financial services provider's stock after selling 15,062 shares during the period. Rafferty Asset Management LLC owned about 0.08% of Old Second Bancorp worth $629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of OSBC. GAMMA Investing LLC boosted its holdings 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 valued at $90,000 after purchasing an additional 5,280 shares during the last quarter. Aquatic Capital Management LLC boosted its holdings 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 valued at $141,000 after purchasing an additional 2,556 shares during the last quarter. PharVision Advisers LLC bought a new position in shares of Old Second Bancorp during the 4th quarter valued at about $178,000. Quantbot Technologies LP boosted its holdings 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 valued at $188,000 after purchasing an additional 3,794 shares during the last quarter. Finally, Avantax Advisory Services Inc. bought a new position in shares of Old Second Bancorp during the 1st quarter valued at about $193,000. Institutional investors own 67.76% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Piper Sandler restated an "overweight" rating and set a $24.50 target price (up from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. Finally, DA Davidson increased their price objective on shares of Old Second Bancorp from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $20.70.

Old Second Bancorp Price Performance

Shares of OSBC stock traded up $0.04 on Wednesday, reaching $18.48. 247,170 shares of the company were exchanged, compared to its average volume of 163,404. The company has a market cap of $972.97 million, a price-to-earnings ratio of 10.10 and a beta of 0.85. 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 moving average price of $18.02 and a 200 day moving average price of $17.08. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $75.13 million for the quarter, compared to analyst estimates 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 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

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