Bridgeway Capital Management LLC Acquires 102,190 Shares of Old Second Bancorp, Inc. $OSBC

Key Points

• Bridgeway Capital Management LLC increased its stake in Old Second Bancorp by 27.5% in Q1, owning approximately 1.05% of the company valued at $7.9 million.
• Old Second Bancorp reported an earnings miss for the last quarter, with an EPS of $0.48, below analysts' expectations of $0.49, despite surpassing revenue forecasts.
• The company announced a special dividend of $0.06 per share, offering a significant yield of 130%, reflecting its strong financial performance.

Bridgeway Capital Management LLC raised its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 27.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 474,310 shares of the financial services provider's stock after purchasing an additional 102,190 shares during the period. Bridgeway Capital Management LLC owned 1.05% of Old Second Bancorp worth $7,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Old Second Bancorp by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,711,390 shares of the financial services provider's stock valued at $45,118,000 after purchasing an additional 73,672 shares during the period. FJ Capital Management LLC lifted its position in Old Second Bancorp by 0.8% during the 1st quarter. FJ Capital Management LLC now owns 1,810,720 shares of the financial services provider's stock valued at $30,130,000 after purchasing an additional 15,108 shares during the period. American Century Companies Inc. lifted its position in Old Second Bancorp by 9.7% during the 1st quarter. American Century Companies Inc. now owns 1,139,741 shares of the financial services provider's stock valued at $18,965,000 after purchasing an additional 101,246 shares during the period. The Manufacturers Life Insurance Company lifted its position in Old Second Bancorp by 0.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 954,275 shares of the financial services provider's stock valued at $15,879,000 after purchasing an additional 7,337 shares during the period. Finally, Stieven Capital Advisors L.P. lifted its position in 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 valued at $11,918,000 after purchasing an additional 305,420 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OSBC. 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. DA Davidson upped their price target 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. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $24.50 price target (up from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Old Second Bancorp presently has a consensus rating of "Buy" and an average target price of $20.70.

Old Second Bancorp Stock Down 1.8%

NASDAQ OSBC traded down $0.33 during trading hours on Friday, reaching $18.43. 259,467 shares of the company's stock were exchanged, compared to its average volume of 171,974. The company's 50-day moving average is $18.06 and its two-hundred day moving average is $17.06. Old Second Bancorp, Inc. has a one year low of $14.14 and a one year 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 capitalization of $970.34 million, a price-to-earnings ratio of 10.07 and a beta of 0.85.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its 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 12.53% and a net margin of 24.38%.The business had revenue of $75.13 million for the quarter, compared to the consensus estimate of $63.58 million. On average, analysts forecast that Old Second Bancorp, Inc. will post 1.86 EPS 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%.

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.