Old Second Bancorp, Inc. $OSBC Holdings Decreased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in Old Second Bancorp, Inc. by 91.5%, resulting in ownership of only 15,280 shares after selling 164,300 shares during the second quarter.
• The company recently announced a special dividend of $0.06 per share, which reflects a remarkable yield of 130.0% for investors of record.
• Analysts have a consensus rating of "Buy" for Old Second Bancorp, with a target price of approximately $21.38, indicating anticipated growth in the company's stock performance.

Assenagon Asset Management S.A. decreased its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 91.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,280 shares of the financial services provider's stock after selling 164,300 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Old Second Bancorp were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Strs Ohio purchased a new position in shares of Old Second Bancorp during the first quarter valued at $88,000. GAMMA Investing LLC grew its holdings in shares of Old Second Bancorp by 4,125.0% during the first quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock valued at $90,000 after buying an additional 5,280 shares in the last quarter. Quarry LP grew its holdings in shares of Old Second Bancorp by 145.5% during the first quarter. Quarry LP now owns 5,802 shares of the financial services provider's stock valued at $97,000 after buying an additional 3,439 shares in the last quarter. Quantbot Technologies LP grew its stake in Old Second Bancorp by 50.4% in the first 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 in the last quarter. Finally, Avantax Advisory Services Inc. purchased a new position in Old Second Bancorp in the first quarter valued at about $193,000. Hedge funds and other institutional investors own 67.76% of the company's stock.

Old Second Bancorp Stock Performance

OSBC opened at $17.61 on Monday. Old Second Bancorp, Inc. has a 52-week low of $14.14 and a 52-week high of $19.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $927.17 million, a PE ratio of 9.62 and a beta of 0.85. The stock has a 50-day moving average of $17.85 and a 200-day moving average of $17.11.

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 the consensus estimate of $0.49 by ($0.01). Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%.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 forecast that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Monday, August 4th. Investors of record on Friday, July 25th were given a dividend of $0.06 per share. This represents a dividend yield of 130.0%. The ex-dividend date of this dividend was Friday, July 25th. Old Second Bancorp's payout ratio is currently 13.11%.

Wall Street Analysts Forecast Growth

OSBC has been the topic of a number of recent research reports. Piper Sandler restated an "overweight" rating and issued a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. Wall Street Zen upgraded Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, DA Davidson boosted their target price on Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Old Second Bancorp presently has a consensus rating of "Buy" and a consensus target price of $21.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.