Hsbc Holdings PLC Boosts Stock Position in Old Second Bancorp, Inc. $OSBC

Hsbc Holdings PLC boosted its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 135.2% in the fourth quarter, Holdings Channel reports. The fund owned 80,105 shares of the financial services provider’s stock after purchasing an additional 46,042 shares during the period. Hsbc Holdings PLC’s holdings in Old Second Bancorp were worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Partners acquired a new position in shares of Old Second Bancorp in the fourth quarter valued at approximately $15,994,000. Wellington Management Group LLP lifted its stake in shares of Old Second Bancorp by 521.2% in the 4th quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock worth $18,909,000 after acquiring an additional 813,600 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after acquiring an additional 630,265 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Old Second Bancorp by 20.4% during the third quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock worth $56,522,000 after acquiring an additional 553,169 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Old Second Bancorp during the fourth quarter worth about $6,114,000. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OSBC shares. Stephens initiated coverage on shares of Old Second Bancorp in a report on Friday, March 27th. They set an “overweight” rating and a $23.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Finally, Piper Sandler increased their target price on Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.75.

Old Second Bancorp Trading Up 0.5%

Shares of OSBC opened at $23.32 on Wednesday. Old Second Bancorp, Inc. has a twelve month low of $16.42 and a twelve month high of $23.55. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.20 billion, a P/E ratio of 13.88 and a beta of 0.71. The firm’s 50-day moving average is $21.45 and its two-hundred day moving average is $20.68.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). The company had revenue of $93.77 million for the quarter, compared to analyst estimates of $94.80 million. Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.67%. On average, research analysts predict that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 1st. Old Second Bancorp’s payout ratio is presently 16.67%.

About Old Second Bancorp

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.