Assenagon Asset Management S.A. Boosts Stake in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Assenagon Asset Management S.A. lifted its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 180.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 443,527 shares of the financial services provider’s stock after buying an additional 285,314 shares during the period. Assenagon Asset Management S.A.’s holdings in Old Second Bancorp were worth $6,915,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its stake in Old Second Bancorp by 19.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 853 shares during the last quarter. Lakewood Asset Management LLC raised its stake in shares of Old Second Bancorp by 8.8% in the third quarter. Lakewood Asset Management LLC now owns 19,951 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 1,612 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Old Second Bancorp by 11.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,632 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 1,807 shares during the period. Hunter Perkins Capital Management LLC boosted its position in Old Second Bancorp by 3.7% in the third quarter. Hunter Perkins Capital Management LLC now owns 52,955 shares of the financial services provider’s stock valued at $826,000 after buying an additional 1,870 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Old Second Bancorp by 2.7% in the second quarter. Rhumbline Advisers now owns 73,155 shares of the financial services provider’s stock valued at $1,083,000 after buying an additional 1,923 shares during the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Raymond James lowered shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $19.00 to $18.00 in a research report on Tuesday, September 17th. Piper Sandler raised their target price on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, DA Davidson set a $18.00 price target on shares of Old Second Bancorp in a report on Thursday, October 17th.

Old Second Bancorp Trading Up 2.6 %

Old Second Bancorp stock opened at $16.78 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm has a market cap of $752.29 million, a PE ratio of 8.52 and a beta of 1.06. The stock’s 50 day simple moving average is $16.17 and its two-hundred day simple moving average is $15.27. Old Second Bancorp, Inc. has a 12 month low of $13.00 and a 12 month high of $17.46.

Old Second Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, October 25th. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s dividend payout ratio (DPR) is currently 12.18%.

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.