PDT Partners LLC Lowers Stake in Old Second Bancorp, Inc. $OSBC

Key Points

• PDT Partners LLC reduced its stake in Old Second Bancorp by 34.7%, selling 18,799 shares, leaving them with approximately 35,336 shares valued at $588,000.
• Recent analyst ratings have resulted in a new price target for Old Second Bancorp, with DA Davidson increasing its target from $17 to $19 and Piper Sandler adjusting to $24.50.
• The company recently declared a special dividend of $0.06 per share, reflecting a high dividend yield of 130.0%.

PDT Partners LLC cut its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 34.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,336 shares of the financial services provider's stock after selling 18,799 shares during the period. PDT Partners LLC owned about 0.08% of Old Second Bancorp worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OSBC. GAMMA Investing LLC lifted its position in Old Second Bancorp by 4,125.0% during the first quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock valued at $90,000 after purchasing an additional 5,280 shares during the period. Quarry LP lifted its position in Old Second Bancorp by 145.5% during the first quarter. Quarry LP now owns 5,802 shares of the financial services provider's stock valued at $97,000 after purchasing an additional 3,439 shares during the period. PharVision Advisers LLC acquired a new position in Old Second Bancorp during the fourth quarter valued at $178,000. Quantbot Technologies LP lifted its position in Old Second Bancorp by 50.4% during the first quarter. Quantbot Technologies LP now owns 11,322 shares of the financial services provider's stock valued at $188,000 after purchasing an additional 3,794 shares during the period. Finally, Avantax Advisory Services Inc. acquired a new position in Old Second Bancorp during the first quarter valued at $193,000. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OSBC shares. Piper Sandler restated 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. Wall Street Zen upgraded Old Second Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, DA Davidson boosted their price objective on Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. 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 company's stock. According to data from MarketBeat.com, Old Second Bancorp currently has an average rating of "Buy" and a consensus price target of $20.70.

Old Second Bancorp Trading Down 1.8%

Shares of OSBC stock traded down $0.33 during trading hours on Friday, hitting $18.43. The company had a trading volume of 259,467 shares, compared to its average volume of 178,716. The stock has a market capitalization of $970.34 million, a PE ratio of 10.07 and a beta of 0.85. 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 company's fifty day moving average is $18.06 and its 200 day moving average is $17.05.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). The firm had revenue of $75.13 million during the quarter, compared to analyst estimates of $63.58 million. Old Second Bancorp had a net margin of 24.38% and a return on equity of 12.53%. Research analysts expect that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Monday, August 4th. Shareholders of record on Friday, July 25th were given 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 (DPR) 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.