Y Intercept Hong Kong Ltd Takes $1.06 Million Position in Old Second Bancorp, Inc. $OSBC

Key Points

• Y Intercept Hong Kong Ltd initiated a new position in Old Second Bancorp, buying 52,576 shares worth about $1.06 million in the first quarter, representing 0.10% ownership.
• Old Second Bancorp’s stock recently traded at $22.89, near its 52-week high of $23.95, with a market cap of about $1.18 billion and a P/E ratio of 13.62.
• The bank missed earnings expectations in its latest quarterly report, posting EPS of $0.49 versus $0.52 expected, though analysts still mostly rate the stock a Moderate Buy with an average price target of $24.20.

Y Intercept Hong Kong Ltd bought a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 52,576 shares of the financial services provider's stock, valued at approximately $1,060,000. Y Intercept Hong Kong Ltd owned 0.10% of Old Second Bancorp at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Harbour Investments Inc. acquired a new position in shares of Old Second Bancorp in the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC raised its holdings in Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 1,215 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in Old Second Bancorp during the fourth quarter worth approximately $27,000. Parkside Financial Bank & Trust acquired a new stake in Old Second Bancorp during the fourth quarter worth approximately $45,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of Old Second Bancorp by 793.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider's stock worth $47,000 after acquiring an additional 2,159 shares during the period. 67.76% of the stock is owned by institutional investors and hedge funds.

Old Second Bancorp Price Performance

Old Second Bancorp stock traded up $0.04 during trading hours on Friday, reaching $22.89. 370,665 shares of the stock were exchanged, compared to its average volume of 397,674. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. Old Second Bancorp, Inc. has a twelve month low of $16.42 and a twelve month high of $23.95. The company has a market cap of $1.18 billion, a P/E ratio of 13.62 and a beta of 0.70. The stock has a 50 day moving average of $21.82 and a two-hundred day moving average of $20.82.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.03). Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%.The firm had revenue of $93.77 million for the quarter, compared to analyst estimates of $94.80 million. Equities analysts expect that Old Second Bancorp, Inc. will post 2.15 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Friday, May 1st were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. Old Second Bancorp's payout ratio is 16.67%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OSBC. Raymond James Financial assumed coverage on Old Second Bancorp in a report on Tuesday. They set an "outperform" rating and a $26.00 price target for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Piper Sandler lifted their target price on Old Second Bancorp from $25.00 to $26.00 and gave the stock an "overweight" rating in a report on Friday, June 26th. Finally, Stephens initiated coverage on shares of Old Second Bancorp in a research note on Friday, March 27th. They issued an "overweight" rating and a $23.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.20.

About Old Second Bancorp

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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