Jacobs Asset Management LLC Grows Holdings in Old Second Bancorp, Inc. $OSBC

Key Points

• Jacobs Asset Management LLC increased its holdings in Old Second Bancorp by 25.6%, owning approximately 403,373 shares after purchasing 82,218 additional shares, which now constitute 4.2% of their portfolio.
• Old Second Bancorp recently announced a special dividend of $0.06 per share, representing a yield of 130.0%, which was paid on August 4th to investors of record on July 25th.
• The stock is currently rated as a "Buy" by most analysts, with an average price target of $20.70, following upgrades in ratings from various analysts in recent weeks.

Jacobs Asset Management LLC increased its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 25.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 403,373 shares of the financial services provider's stock after acquiring an additional 82,218 shares during the period. Old Second Bancorp comprises about 4.2% of Jacobs Asset Management LLC's portfolio, making the stock its 10th largest position. Jacobs Asset Management LLC owned about 0.90% of Old Second Bancorp worth $6,712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AlphaQuest LLC increased its stake in Old Second Bancorp by 33.2% in the 1st quarter. AlphaQuest LLC now owns 49,672 shares of the financial services provider's stock valued at $827,000 after buying an additional 12,394 shares during the last quarter. Martingale Asset Management L P bought a new position in shares of Old Second Bancorp in the 1st quarter valued at about $1,720,000. Quantbot Technologies LP grew its position in shares of Old Second Bancorp by 50.4% in the 1st quarter. Quantbot Technologies LP now owns 11,322 shares of the financial services provider's stock valued at $188,000 after acquiring an additional 3,794 shares during the period. American Century Companies Inc. boosted its holdings in shares of 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 worth $18,965,000 after buying an additional 101,246 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Old Second Bancorp during the 1st quarter worth about $5,593,000. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on OSBC. Wall Street Zen upgraded shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Piper Sandler restated an "overweight" rating and issued 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 upped 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 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 has an average rating of "Buy" and an average price target of $20.70.

Old Second Bancorp Trading Down 0.4%

Shares of OSBC traded down $0.07 during trading hours on Friday, hitting $18.46. 202,873 shares of the stock were exchanged, compared to its average volume of 223,355. Old Second Bancorp, Inc. has a fifty-two week low of $14.14 and a fifty-two week 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. The business has a 50-day moving average of $17.95 and a 200-day moving average of $17.08. The firm has a market capitalization of $971.92 million, a P/E ratio of 10.09 and a beta of 0.80.

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 firm had revenue of $75.13 million for the quarter, compared to analyst estimates of $63.58 million. On average, research analysts expect that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, July 25th. This represents a yield of 130.0%. Old Second Bancorp's dividend payout ratio 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.