American Century Companies Inc. Acquires 101,246 Shares of Old Second Bancorp, Inc. $OSBC

Key Points

• American Century Companies Inc. increased its stake in Old Second Bancorp by 9.7% in Q1, owning approximately 1.14 million shares valued at nearly $19 million.
• Old Second Bancorp reported a quarterly EPS of $0.48, missing analysts' estimates, but its revenue reached $75.13 million, exceeding expectations of $63.58 million.
• The company announced a special dividend of $0.06 per share, reflecting a significant yield of 130.0%, with a low dividend payout ratio of 13.11%.

American Century Companies Inc. grew its position in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 9.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,139,741 shares of the financial services provider's stock after acquiring an additional 101,246 shares during the period. American Century Companies Inc. owned about 2.53% of Old Second Bancorp worth $18,965,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of OSBC. Boothbay Fund Management LLC bought a new position in shares of Old Second Bancorp in the 4th quarter valued at about $6,084,000. Nuveen LLC bought a new stake in shares of Old Second Bancorp during the 1st quarter worth about $5,593,000. Stieven Capital Advisors L.P. boosted its holdings in shares of Old Second Bancorp by 74.3% during the 1st quarter. Stieven Capital Advisors L.P. now owns 716,228 shares of the financial services provider's stock worth $11,918,000 after buying an additional 305,420 shares during the period. Millennium Management LLC boosted its holdings in shares of Old Second Bancorp by 452.4% during the 4th quarter. Millennium Management LLC now owns 308,223 shares of the financial services provider's stock worth $5,480,000 after buying an additional 252,430 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Old Second Bancorp by 188.2% during the 4th quarter. Nuveen Asset Management LLC now owns 281,572 shares of the financial services provider's stock worth $5,006,000 after buying an additional 183,869 shares during the period. Institutional investors own 67.76% of the company's stock.

Old Second Bancorp Price Performance

OSBC stock traded down $0.07 during trading on Friday, reaching $18.46. 202,873 shares of the company were exchanged, compared to its average volume of 175,022. The company has a 50-day moving average of $17.95 and a two-hundred day moving average of $17.08. The company has a market capitalization of $971.92 million, a price-to-earnings ratio of 10.09 and a beta of 0.80. Old Second Bancorp, Inc. has a twelve month low of $14.14 and a twelve month high of $19.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.85 and a quick ratio of 0.85.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings data 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). The company 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%. As a group, equities analysts predict 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 announced a special dividend, which was paid on Monday, August 4th. Shareholders of record on Friday, July 25th were issued 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 payout ratio is presently 13.11%.

Wall Street Analyst Weigh In

OSBC has been the subject of several research analyst reports. Wall Street Zen raised shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Piper Sandler reaffirmed an "overweight" rating and set a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. Finally, DA Davidson lifted their target price on shares of Old Second Bancorp from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $20.70.

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.