River Street Advisors LLC Takes Position in Old Second Bancorp, Inc. $OSBC

River Street Advisors LLC acquired a new position in Old Second Bancorp, Inc. (NASDAQ:OSBC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 383,949 shares of the financial services provider’s stock, valued at approximately $6,637,000. Old Second Bancorp comprises 2.6% of River Street Advisors LLC’s portfolio, making the stock its 9th biggest holding. River Street Advisors LLC owned 0.73% of Old Second Bancorp at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in Old Second Bancorp by 458.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,215 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Old Second Bancorp in the 3rd quarter valued at $67,000. Strs Ohio acquired a new position in Old Second Bancorp during the 1st quarter worth about $88,000. Tower Research Capital LLC TRC lifted its stake in Old Second Bancorp by 446.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,306 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 5,153 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Old Second Bancorp during the 2nd quarter valued at about $125,000. Institutional investors and hedge funds own 67.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on OSBC shares. Keefe, Bruyette & Woods boosted their price target on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Wall Street Zen upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.63.

Insider Activity

In related news, insider Darin Patrick Campbell sold 31,159 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $17.89, for a total transaction of $557,434.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.80% of the company’s stock.

Old Second Bancorp Stock Performance

Shares of Old Second Bancorp stock opened at $19.48 on Monday. The business has a 50-day simple moving average of $19.18 and a 200-day simple moving average of $18.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.89 and a current ratio of 0.89. Old Second Bancorp, Inc. has a one year low of $14.14 and a one year high of $20.96. The company has a market cap of $1.03 billion, a PE ratio of 12.90 and a beta of 0.82.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. Old Second Bancorp had a net margin of 18.89% and a return on equity of 12.34%. The firm had revenue of $95.88 million for the quarter, compared to analysts’ expectations of $80.45 million. On average, equities research analysts forecast that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 31st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, October 31st. Old Second Bancorp’s payout ratio is 18.54%.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.