Great Lakes Advisors LLC Boosts Stock Holdings in Old Second Bancorp, Inc. $OSBC

Key Points

• Great Lakes Advisors LLC increased its position in Old Second Bancorp by 74.3% in Q1, owning approximately 197,992 shares worth about $3.3 million.
• Multiple institutional investors have boosted their stakes in Old Second Bancorp, with 67.76% of the stock now owned by hedge funds and institutional investors.
• The company's stock received upgrade ratings from analysts, including a new target price of $24.50 from Piper Sandler, reflecting growing confidence in Old Second Bancorp's financial performance.

Great Lakes Advisors LLC grew its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 74.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,992 shares of the financial services provider's stock after acquiring an additional 84,399 shares during the quarter. Great Lakes Advisors LLC owned about 0.44% of Old Second Bancorp worth $3,295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Old Second Bancorp by 74.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider's stock worth $24,599,000 after purchasing an additional 630,265 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Old Second Bancorp in the 1st quarter worth $5,593,000. Stieven Capital Advisors L.P. boosted its position in shares of Old Second Bancorp by 74.3% in 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 purchasing an additional 305,420 shares in the last quarter. Millennium Management LLC boosted its position in shares of Old Second Bancorp by 452.4% in the 4th quarter. Millennium Management LLC now owns 308,223 shares of the financial services provider's stock worth $5,480,000 after purchasing an additional 252,430 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Old Second Bancorp by 188.2% in the 4th quarter. Nuveen Asset Management LLC now owns 281,572 shares of the financial services provider's stock worth $5,006,000 after purchasing an additional 183,869 shares in the last quarter. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Price Performance

Shares of Old Second Bancorp stock traded down $0.21 on Tuesday, hitting $17.83. The company's stock had a trading volume of 41,478 shares, compared to its average volume of 222,411. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. Old Second Bancorp, Inc. has a 1 year low of $14.14 and a 1 year high of $19.46. The firm has a fifty day moving average price of $18.01 and a 200-day moving average price of $17.05. The company has a market capitalization of $938.75 million, a price-to-earnings ratio of 9.74 and a beta of 0.85.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings results 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 net margin of 24.38% and a return on equity of 12.53%. The business had revenue of $75.13 million during the quarter, compared to analysts' expectations of $63.58 million. As a group, sell-side analysts anticipate that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Monday, August 4th. Shareholders 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 was Friday, July 25th. Old Second Bancorp's payout ratio is 13.11%.

Analysts Set New Price Targets

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

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.