Assenagon Asset Management S.A. bought a new stake in Old Second Bancorp Inc. (NASDAQ:OSBC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 102,230 shares of the financial services provider’s stock, valued at approximately $1,579,000. Assenagon Asset Management S.A. owned about 0.34% of Old Second Bancorp at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in shares of Old Second Bancorp by 9.3% during the 3rd quarter. First Trust Advisors LP now owns 82,793 shares of the financial services provider’s stock valued at $1,279,000 after buying an additional 7,034 shares during the period. First Quadrant L P CA lifted its holdings in shares of Old Second Bancorp by 480.1% during the 3rd quarter. First Quadrant L P CA now owns 22,327 shares of the financial services provider’s stock valued at $345,000 after buying an additional 18,478 shares during the period. Atria Investments LLC bought a new position in shares of Old Second Bancorp during the 3rd quarter valued at $285,000. Northern Trust Corp lifted its holdings in shares of Old Second Bancorp by 2.6% during the 2nd quarter. Northern Trust Corp now owns 355,035 shares of the financial services provider’s stock valued at $5,112,000 after buying an additional 8,908 shares during the period. Finally, HRT Financial LLC bought a new position in shares of Old Second Bancorp during the 2nd quarter valued at $173,000. 70.23% of the stock is owned by institutional investors.
Several research firms have recently weighed in on OSBC. Sandler O’Neill reissued a “buy” rating and set a $18.00 price target on shares of Old Second Bancorp in a report on Friday, July 27th. BidaskClub raised Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Zacks Investment Research cut Old Second Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $17.00.
Shares of Old Second Bancorp stock opened at $14.46 on Friday. Old Second Bancorp Inc. has a one year low of $12.15 and a one year high of $16.30. The firm has a market capitalization of $425.38 million, a P/E ratio of 17.85, a P/E/G ratio of 1.75 and a beta of 0.86. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60.
Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.03. Old Second Bancorp had a return on equity of 16.32% and a net margin of 17.04%. The company had revenue of $31.55 million for the quarter, compared to analysts’ expectations of $32.15 million. As a group, analysts forecast that Old Second Bancorp Inc. will post 1.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 5th. Investors of record on Friday, October 26th were issued a $0.01 dividend. The ex-dividend date was Thursday, October 25th. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. Old Second Bancorp’s dividend payout ratio is currently 4.94%.
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About Old Second Bancorp
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank that provides a range of banking services. The company accepts demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers revolving lines of credit for working capital; lending for capital expenditures on manufacturing equipment; lending to small business manufactures, service companies, medical and dental entities, and specialty contractors; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage loans, second mortgage loans, and home equity line of credit mortgages; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans, as well as student loans; and overdraft checking.
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