Raymond James Financial Inc. Acquires New Shares in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Raymond James Financial Inc. purchased a new stake in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,800 shares of the financial services provider's stock, valued at approximately $459,000. Raymond James Financial Inc. owned approximately 0.06% of Old Second Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its position in shares of Old Second Bancorp by 1.8% during the 4th quarter. Invesco Ltd. now owns 77,897 shares of the financial services provider's stock worth $1,385,000 after buying an additional 1,348 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Old Second Bancorp by 10.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 20,364 shares of the financial services provider's stock worth $362,000 after buying an additional 1,955 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Old Second Bancorp by 25.9% during the 4th quarter. Wells Fargo & Company MN now owns 27,075 shares of the financial services provider's stock worth $481,000 after buying an additional 5,570 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Old Second Bancorp by 16.6% during the 4th quarter. Trexquant Investment LP now owns 108,623 shares of the financial services provider's stock worth $1,931,000 after buying an additional 15,435 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Old Second Bancorp by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,034,709 shares of the financial services provider's stock worth $18,402,000 after buying an additional 5,224 shares in the last quarter. Institutional investors own 67.76% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on OSBC. Stephens decreased their price target on shares of Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Keefe, Bruyette & Woods decreased their price target on shares of Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $20.10.

Old Second Bancorp Stock Performance

Shares of OSBC stock traded up $0.16 during trading hours on Thursday, hitting $17.17. 40,859 shares of the company were exchanged, compared to its average volume of 253,819. Old Second Bancorp, Inc. has a 52-week low of $13.38 and a 52-week high of $19.46. The stock has a market capitalization of $773.46 million, a price-to-earnings ratio of 9.17 and a beta of 0.78. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $15.98 and a 200 day simple moving average of $17.43.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. The business had revenue of $73.57 million during the quarter, compared to analysts' expectations of $60.00 million. Research analysts predict 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 quarterly dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.24 dividend on an annualized basis and a yield of 1.40%. Old Second Bancorp's dividend payout ratio is 13.11%.

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.