Trexquant Investment LP Decreases Position in Old Second Bancorp, Inc. $OSBC

Key Points

• Trexquant Investment LP reduced its stake in Old Second Bancorp, Inc. by 31.5%, now holding 74,368 shares valued at about $1,237,000.
• Old Second Bancorp recently reported earnings of $0.48 per share, missing expectations slightly, but had revenues of $75.13 million, above analysts' forecasts.
• Multiple hedge funds have increased their holdings, with GAMMA Investing LLC raising its stake by an impressive 4,125.0% during the same quarter.

Trexquant Investment LP trimmed its holdings in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 31.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,368 shares of the financial services provider's stock after selling 34,255 shares during the period. Trexquant Investment LP owned approximately 0.17% of Old Second Bancorp worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Old Second Bancorp by 4,125.0% during the 1st quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock worth $90,000 after acquiring an additional 5,280 shares during the last quarter. PharVision Advisers LLC purchased a new position in shares of Old Second Bancorp in the fourth quarter valued at about $178,000. Quantbot Technologies LP increased its position in shares of Old Second Bancorp by 50.4% in the first quarter. Quantbot Technologies LP now owns 11,322 shares of the financial services provider's stock valued at $188,000 after acquiring an additional 3,794 shares during the period. Avantax Advisory Services Inc. purchased a new position in shares of Old Second Bancorp in the first quarter valued at about $193,000. Finally, Dakota Wealth Management purchased a new position in shares of Old Second Bancorp during the first quarter valued at about $200,000. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Stock Performance

OSBC opened at $18.43 on Friday. The stock has a market capitalization of $970.34 million, a price-to-earnings ratio of 10.07 and a beta of 0.85. The company has a fifty day moving average of $18.06 and a 200 day moving average of $17.07. 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 quick ratio of 0.85 and a current ratio of 0.85.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its 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 company had revenue of $75.13 million for the quarter, compared to analysts' expectations of $63.58 million. As a group, sell-side analysts forecast that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

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. The ex-dividend date was Friday, July 25th. This represents a yield of 130.0%. Old Second Bancorp's dividend payout ratio (DPR) is 13.11%.

Analysts Set New Price Targets

OSBC has been the topic of several research analyst reports. 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. DA Davidson increased their price target on shares of Old Second Bancorp from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $24.50 price target (up from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus 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.

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