Sei Investments Co. Purchases 86,057 Shares of Old Second Bancorp, Inc. $OSBC

Key Points

• Sei Investments increased its Old Second Bancorp stake by 73.5% in the first quarter, purchasing 86,057 shares and bringing its total holdings to 203,088 shares worth about $4.1 million.
• Institutional investors own approximately 67.76% of OSBC, while the stock recently traded at $25.78 near its 52-week high of $26.04. The company reported quarterly EPS of $0.55, in line with analyst expectations.
• Old Second Bancorp declared a quarterly dividend of $0.07 per share, equal to a 1.1% annualized yield. Analysts maintain a generally positive outlook, with an average “Buy” rating and a consensus price target of $25.40.

Sei Investments Co. increased its position in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 73.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 203,088 shares of the financial services provider's stock after purchasing an additional 86,057 shares during the quarter. Sei Investments Co. owned approximately 0.39% of Old Second Bancorp worth $4,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider's stock valued at $430,000 after purchasing an additional 1,067 shares during the period. Goldman Sachs Group Inc. grew its position in shares of 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 buying an additional 630,265 shares during the period. Empowered Funds LLC grew its position in shares of Old Second Bancorp by 38.7% during the 1st quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider's stock worth $2,794,000 after buying an additional 46,890 shares during the period. Jane Street Group LLC bought a new stake in shares of Old Second Bancorp during the first quarter worth approximately $1,378,000. Finally, Strs Ohio bought a new stake in shares of Old Second Bancorp during the first quarter worth approximately $88,000. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Stock Down 0.4%

NASDAQ:OSBC opened at $25.78 on Friday. Old Second Bancorp, Inc. has a 1 year low of $16.53 and a 1 year high of $26.04. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 14.82 and a beta of 0.70. The stock has a 50-day moving average price of $23.14 and a two-hundred day moving average price of $21.42.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, hitting analysts' consensus estimates of $0.55. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%. As a group, equities analysts expect that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, July 31st. Old Second Bancorp's dividend payout ratio (DPR) is 16.09%.

Wall Street Analysts Forecast Growth

OSBC has been the topic of a number of recent research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. DA Davidson upped their target price on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Raymond James Financial assumed coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They issued an "outperform" rating and a $26.00 price target on the stock. Finally, Zacks Research raised Old Second Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $25.40.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.

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