10,133 Shares in Old Second Bancorp, Inc. (NASDAQ:OSBC) Acquired by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 10,133 shares of the financial services provider’s stock, valued at approximately $158,000.

Several other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Old Second Bancorp by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock worth $25,188,000 after buying an additional 138,253 shares during the period. American Century Companies Inc. boosted its position in Old Second Bancorp by 19.7% during the 2nd quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock worth $11,851,000 after buying an additional 131,623 shares during the period. Davis Asset Management L.P. acquired a new stake in Old Second Bancorp during the 2nd quarter worth approximately $8,623,000. Assenagon Asset Management S.A. lifted its position in shares of Old Second Bancorp by 180.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 443,527 shares of the financial services provider’s stock worth $6,915,000 after purchasing an additional 285,314 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Old Second Bancorp by 20.1% in the 2nd quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider’s stock worth $4,561,000 after purchasing an additional 51,652 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Old Second Bancorp Stock Performance

NASDAQ:OSBC opened at $18.69 on Friday. The company has a fifty day moving average of $17.15 and a 200-day moving average of $16.07. The firm has a market capitalization of $838.25 million, a P/E ratio of 10.10 and a beta of 1.08. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp, Inc. has a twelve month low of $13.00 and a twelve month high of $19.37.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $71.16 million during the quarter, compared to analyst estimates of $70.95 million. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. As a group, sell-side analysts anticipate that Old Second Bancorp, Inc. will post 1.95 EPS for the current year.

Old Second Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were paid a $0.06 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.24 annualized dividend and a dividend yield of 1.28%. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s payout ratio is currently 12.97%.

About Old Second Bancorp

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.