Old Second Bancorp, Inc. (NASDAQ:OSBC) Shares Sold by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. lowered its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 26.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 385,408 shares of the financial services provider’s stock after selling 141,077 shares during the quarter. Stieven Capital Advisors L.P. owned approximately 0.86% of Old Second Bancorp worth $6,009,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Old Second Bancorp by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock worth $33,548,000 after acquiring an additional 45,955 shares during the period. Boston Partners boosted its position in Old Second Bancorp by 300.6% during the 1st quarter. Boston Partners now owns 55,735 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 41,821 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in Old Second Bancorp during the 2nd quarter worth $759,000. SG Americas Securities LLC acquired a new position in Old Second Bancorp during the 2nd quarter worth $260,000. Finally, AQR Capital Management LLC boosted its position in Old Second Bancorp by 20.1% during the 2nd quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider’s stock worth $4,561,000 after acquiring an additional 51,652 shares during the period. Institutional investors and hedge funds own 67.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on OSBC. Piper Sandler boosted their price target on Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Raymond James lowered Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $19.00 to $18.00 in a research report on Tuesday, September 17th. Finally, DA Davidson set a $18.00 price objective on Old Second Bancorp in a report on Thursday, October 17th.

Old Second Bancorp Trading Down 0.8 %

Shares of Old Second Bancorp stock opened at $18.46 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market cap of $827.93 million, a price-to-earnings ratio of 9.98 and a beta of 1.06. The business has a fifty day simple moving average of $16.45 and a 200-day simple moving average of $15.64. Old Second Bancorp, Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $18.86.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $71.16 million during the quarter, compared to analyst estimates of $70.95 million. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. On average, equities analysts forecast that Old Second Bancorp, Inc. will post 1.95 EPS for the current fiscal year.

Old Second Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were given a dividend of $0.06 per share. The ex-dividend date was Friday, October 25th. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.30%. Old Second Bancorp’s payout ratio is 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.