Vanguard Group Inc. Acquires 73,672 Shares of Old Second Bancorp, Inc. $OSBC

Key Points

• Vanguard Group Inc. has increased its holdings in Old Second Bancorp by 2.8%, acquiring an additional 73,672 shares, bringing its total ownership to 2,711,390 shares, valued at approximately $45.1 million.
• Old Second Bancorp recently announced a special dividend of $0.06 per share, reflecting a substantial yield of 130.0%, with a payout ratio of 13.11%.
• According to analysts, Old Second Bancorp holds a consensus rating of Buy with a target price of $20.70, and its shares recently traded at $18.17, down 1.2% on the day.

Vanguard Group Inc. boosted its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,711,390 shares of the financial services provider's stock after buying an additional 73,672 shares during the quarter. Vanguard Group Inc. owned approximately 6.02% of Old Second Bancorp worth $45,118,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of OSBC. Wells Fargo & Company MN grew its position in shares of Old Second Bancorp by 25.9% in the fourth quarter. Wells Fargo & Company MN now owns 27,075 shares of the financial services provider's stock valued at $481,000 after purchasing an additional 5,570 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Old Second Bancorp by 10.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,364 shares of the financial services provider's stock valued at $362,000 after purchasing an additional 1,955 shares during the last quarter. Invesco Ltd. grew its position in shares of Old Second Bancorp by 1.8% in the fourth quarter. Invesco Ltd. now owns 77,897 shares of the financial services provider's stock valued at $1,385,000 after purchasing an additional 1,348 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Old Second Bancorp in the fourth quarter valued at approximately $459,000. Finally, Barclays PLC grew its position in shares of Old Second Bancorp by 8.6% in the fourth quarter. Barclays PLC now owns 126,644 shares of the financial services provider's stock valued at $2,251,000 after purchasing an additional 10,062 shares during the last quarter. Institutional investors and hedge funds own 67.76% of the company's stock.

Old Second Bancorp Price Performance

NASDAQ:OSBC traded down $0.07 during trading hours on Friday, reaching $18.46. 202,873 shares of the company were exchanged, compared to its average volume of 173,523. The company has a market capitalization of $971.92 million, a P/E ratio of 10.09 and a beta of 0.85. Old Second Bancorp, Inc. has a 1-year low of $14.14 and a 1-year 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 business has a 50 day moving average of $17.95 and a 200 day moving average of $17.06.

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

Old Second Bancorp Announces Dividend

The firm also recently announced 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. The ex-dividend date was Friday, July 25th. This represents a yield of 130.0%. Old Second Bancorp's dividend payout ratio is presently 13.11%.

Analyst Upgrades and Downgrades

OSBC has been the topic of several research reports. Wall Street Zen raised Old Second Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. DA Davidson upped their target price 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. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus 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.