Great Lakes Advisors LLC Has $3.30 Million 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 position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 74.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,992 shares of the financial services provider's stock after buying an additional 84,399 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.44% of Old Second Bancorp worth $3,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in Old Second Bancorp by 74.3% during 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 acquiring an additional 630,265 shares during the last quarter. Nuveen LLC bought a new stake in shares of Old Second Bancorp during the first quarter worth $5,593,000. Stieven Capital Advisors L.P. grew its holdings 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 worth $11,918,000 after acquiring an additional 305,420 shares during the last quarter. Millennium Management LLC increased its position in 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 valued at $5,480,000 after acquiring an additional 252,430 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Old Second Bancorp by 188.2% in the fourth quarter. Nuveen Asset Management LLC now owns 281,572 shares of the financial services provider's stock worth $5,006,000 after acquiring an additional 183,869 shares during the last quarter. Institutional investors own 67.76% of the company's stock.

Old Second Bancorp Stock Down 0.7%

Shares of OSBC traded down $0.13 during midday trading on Friday, hitting $18.26. The stock had a trading volume of 193,755 shares, compared to its average volume of 190,922. 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 firm has a market cap of $961.39 million, a price-to-earnings ratio of 9.98 and a beta of 0.85. The company has a 50 day simple moving average of $18.03 and a two-hundred day simple moving average of $17.06. Old Second Bancorp, Inc. has a twelve month low of $14.14 and a twelve month high of $19.46.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 EPS 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 firm had revenue of $75.13 million during the quarter, compared to the consensus estimate of $63.58 million. On average, analysts anticipate that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The firm also recently declared a special dividend, which was paid on Monday, August 4th. Shareholders of record on Friday, July 25th were paid a $0.06 dividend. This represents a yield of 130.0%. The ex-dividend date was Friday, July 25th. Old Second Bancorp's payout ratio is presently 13.11%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. DA Davidson raised their price objective on shares of Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research note 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 restated an "overweight" rating and set a $24.50 price objective (up previously from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. One equities research 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. According to MarketBeat, the stock presently has an average rating of "Buy" and an average 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.