Hudson Edge Investment Partners Inc. Sells 26,159 Shares of Old Second Bancorp, Inc. $OSBC

Hudson Edge Investment Partners Inc. cut its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 44.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,082 shares of the financial services provider’s stock after selling 26,159 shares during the period. Hudson Edge Investment Partners Inc. owned about 0.06% of Old Second Bancorp worth $647,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Old Second Bancorp by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 1,067 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in 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 purchasing an additional 630,265 shares during the period. Empowered Funds LLC increased its holdings in Old Second Bancorp by 38.7% in the first quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider’s stock valued at $2,794,000 after purchasing an additional 46,890 shares during the period. Jane Street Group LLC bought a new position in Old Second Bancorp during the 1st quarter worth $1,378,000. Finally, Strs Ohio bought a new position in Old Second Bancorp during the 1st quarter worth $88,000. 67.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on OSBC shares. Piper Sandler lifted their target price on Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Stephens began coverage on Old Second Bancorp in a research note on Friday, March 27th. They issued an “overweight” rating and a $23.00 price target for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

Old Second Bancorp Stock Performance

OSBC opened at $23.23 on Friday. Old Second Bancorp, Inc. has a twelve month low of $16.42 and a twelve month high of $23.95. The company has a fifty day moving average of $21.56 and a 200-day moving average of $20.74. The stock has a market cap of $1.19 billion, a PE ratio of 13.83 and a beta of 0.70. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.03). The firm had revenue of $93.77 million during 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, sell-side analysts predict that Old Second Bancorp, Inc. will post 2.16 EPS for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Friday, May 1st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, May 1st. Old Second Bancorp’s payout ratio is currently 16.67%.

Old Second Bancorp 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.