Point72 Asset Management L.P. Makes New $289,000 Investment in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Point72 Asset Management L.P. acquired a new stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,535 shares of the financial services provider’s stock, valued at approximately $289,000.

Several other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings 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 valued at $25,188,000 after buying an additional 138,253 shares in the last quarter. American Century Companies Inc. grew its position in Old Second Bancorp by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock valued at $11,851,000 after acquiring an additional 131,623 shares during the last quarter. Davis Asset Management L.P. purchased a new position in Old Second Bancorp in the 2nd quarter worth about $8,623,000. Assenagon Asset Management S.A. grew its stake in 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 acquiring an additional 285,314 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Old Second Bancorp by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 358,346 shares of the financial services provider’s stock worth $5,587,000 after acquiring an additional 25,570 shares during the period. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Trading Down 1.1 %

Old Second Bancorp stock opened at $18.51 on Friday. Old Second Bancorp, Inc. has a one year low of $13.00 and a one year high of $19.37. The stock has a market cap of $830.23 million, a PE ratio of 10.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50-day moving average of $17.43 and a two-hundred day moving average of $16.18.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $71.16 million during the quarter, compared to the consensus estimate of $70.95 million. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. On average, research analysts anticipate that Old Second Bancorp, Inc. will post 1.95 EPS for the current fiscal year.

Old Second Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Friday, October 25th. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s dividend payout ratio (DPR) is 12.97%.

Analyst Ratings Changes

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

Old Second Bancorp Company 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.