Old Second Bancorp, Inc. $OSBC is Jacobs Asset Management LLC's 10th Largest Position

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 lifted its holdings in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 25.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 403,373 shares of the financial services provider's stock after buying an additional 82,218 shares during the period. Old Second Bancorp makes up 4.2% of Jacobs Asset Management LLC's holdings, making the stock its 10th biggest position. Jacobs Asset Management LLC owned 0.90% of Old Second Bancorp worth $6,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OSBC. Nuveen LLC acquired a new position in Old Second Bancorp during the first quarter worth about $5,593,000. Stieven Capital Advisors L.P. boosted its position in Old Second Bancorp by 74.3% during the first quarter. Stieven Capital Advisors L.P. now owns 716,228 shares of the financial services provider's stock worth $11,918,000 after acquiring an additional 305,420 shares during the last quarter. Millennium Management LLC increased its position in shares of Old Second Bancorp by 452.4% during the fourth quarter. Millennium Management LLC now owns 308,223 shares of the financial services provider's stock valued at $5,480,000 after acquiring an additional 252,430 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Old Second Bancorp by 188.2% during the fourth quarter. Nuveen Asset Management LLC now owns 281,572 shares of the financial services provider's stock valued at $5,006,000 after acquiring an additional 183,869 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Old Second Bancorp by 7.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,019,433 shares of the financial services provider's stock valued at $35,906,000 after acquiring an additional 134,455 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OSBC shares. DA Davidson lifted their price target on shares of Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. 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. Finally, Piper Sandler reiterated an "overweight" rating and issued a $24.50 price target (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. 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. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $20.70.

Old Second Bancorp Stock Down 0.4%

Shares of NASDAQ:OSBC traded down $0.07 during trading on Friday, hitting $18.46. 202,873 shares of the company were exchanged, compared to its average volume of 175,022. The stock has a market capitalization of $971.92 million, a P/E ratio of 10.09 and a beta of 0.80. 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, Inc. has a 12-month low of $14.14 and a 12-month high of $19.46. The firm's 50 day moving average price is $17.95 and its 200-day moving average price is $17.07.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last issued 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). The company had revenue of $75.13 million for the quarter, compared to analysts' expectations of $63.58 million. Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%. On average, research analysts predict that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Monday, August 4th. Stockholders 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 was Friday, July 25th. Old Second Bancorp's payout ratio is currently 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.