Old Second Bancorp, Inc. (NASDAQ:OSBC) Shares Sold by Jacobs Asset Management LLC

Jacobs Asset Management LLC reduced its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 312,500 shares of the financial services provider’s stock after selling 12,500 shares during the quarter. Old Second Bancorp makes up 3.2% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 13th largest holding. Jacobs Asset Management LLC’s holdings in Old Second Bancorp were worth $4,872,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OSBC. nVerses Capital LLC bought a new stake in shares of Old Second Bancorp in the 2nd quarter valued at $33,000. Innealta Capital LLC acquired a new position in shares of Old Second Bancorp in the 2nd quarter worth approximately $49,000. Quantbot Technologies LP increased its holdings in shares of Old Second Bancorp by 134.0% during the third quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 3,587 shares in the last quarter. CWM LLC raised its holdings in Old Second Bancorp by 36.3% in the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 2,123 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Old Second Bancorp in the third quarter valued at about $158,000. 67.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OSBC shares. Raymond James cut shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $19.00 to $18.00 in a research report on Tuesday, September 17th. DA Davidson set a $18.00 target price on shares of Old Second Bancorp in a research note on Thursday, October 17th. Finally, Piper Sandler raised their price objective 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.

Old Second Bancorp Stock Up 0.4 %

Shares of Old Second Bancorp stock opened at $18.68 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $837.80 million, a price-to-earnings ratio of 10.10 and a beta of 1.08. The company has a 50-day moving average of $16.91 and a 200 day moving average of $15.97. Old Second Bancorp, Inc. has a 1 year low of $13.00 and a 1 year high of $19.37.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results 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. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. The firm had revenue of $71.16 million during the quarter, compared to analyst estimates of $70.95 million. As a group, sell-side analysts anticipate that Old Second Bancorp, Inc. will post 1.95 earnings per share for the current fiscal year.

Old Second Bancorp Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a yield of 1.28%. This is an increase 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.