State Street Corp Purchases 77,143 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

State Street Corp increased its holdings in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 6.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,264,359 shares of the financial services provider’s stock after buying an additional 77,143 shares during the period. State Street Corp’s holdings in Old Second Bancorp were worth $19,711,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OSBC. Dimensional Fund Advisors LP increased its holdings in shares of Old Second Bancorp by 8.8% in 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 last quarter. American Century Companies Inc. increased its stake in Old Second Bancorp by 19.7% during the second quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock worth $11,851,000 after acquiring an additional 131,623 shares during the last quarter. Davis Asset Management L.P. purchased a new stake in Old Second Bancorp during the second quarter valued at approximately $8,623,000. Assenagon Asset Management S.A. lifted its stake 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 valued at $6,915,000 after purchasing an additional 285,314 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Old Second Bancorp by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 358,346 shares of the financial services provider’s stock worth $5,587,000 after purchasing an additional 25,570 shares during the period. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. DA Davidson set a $18.00 price target on Old Second Bancorp in a research report on Thursday, October 17th. Raymond James raised shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Piper Sandler lifted 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 note on Friday, October 18th.

Old Second Bancorp Price Performance

OSBC opened at $17.84 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $17.81 and a 200 day moving average of $16.39. Old Second Bancorp, Inc. has a 52-week low of $13.00 and a 52-week high of $19.37. The stock has a market cap of $800.18 million, a P/E ratio of 9.64 and a beta of 1.08.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. The firm had revenue of $71.16 million for the quarter, compared to analysts’ expectations of $70.95 million. 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 company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued a $0.06 dividend. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.35%. Old Second Bancorp’s payout ratio is presently 12.97%.

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.