Jacobs Asset Management LLC Sells 131,477 Shares of Old Second Bancorp, Inc. $OSBC

Jacobs Asset Management LLC lowered its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 46.7% in the 1st quarter, HoldingsChannel reports. The firm owned 150,000 shares of the financial services provider’s stock after selling 131,477 shares during the period. Old Second Bancorp makes up approximately 1.8% of Jacobs Asset Management LLC’s holdings, making the stock its 22nd largest holding. Jacobs Asset Management LLC’s holdings in Old Second Bancorp were worth $3,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd bought a new position in shares of Old Second Bancorp during the 1st quarter worth approximately $1,060,000. UBS Group AG increased its stake in shares of Old Second Bancorp by 295.2% in the 4th quarter. UBS Group AG now owns 177,102 shares of the financial services provider’s stock valued at $3,453,000 after acquiring an additional 132,290 shares in the last quarter. Davis Asset Management L.P. increased its stake in shares of Old Second Bancorp by 16.4% in the 4th quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider’s stock valued at $34,038,000 after acquiring an additional 245,523 shares in the last quarter. River Street Advisors LLC increased its stake in shares of Old Second Bancorp by 104.0% in the 1st quarter. River Street Advisors LLC now owns 746,660 shares of the financial services provider’s stock valued at $15,053,000 after acquiring an additional 380,589 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its position in shares of Old Second Bancorp by 15.9% during the 4th quarter. Kennedy Capital Management LLC now owns 1,267,042 shares of the financial services provider’s stock valued at $24,707,000 after acquiring an additional 173,724 shares during the period. 67.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on OSBC. Piper Sandler increased their target price on shares of Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Finally, Raymond James Financial assumed coverage on shares of Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Old Second Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $24.20.

Old Second Bancorp Trading Up 2.2%

NASDAQ OSBC opened at $24.03 on Friday. 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, Inc. has a 52 week low of $16.42 and a 52 week high of $24.21. The business has a 50 day moving average price of $22.35 and a 200-day moving average price of $21.07. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 13.81 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%.The company had revenue of $96.59 million for the quarter, compared to analysts’ expectations of $94.88 million. As a group, equities analysts expect that Old Second Bancorp, Inc. will post 2.17 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, July 31st. This represents a $0.28 annualized dividend and a yield of 1.2%. Old Second Bancorp’s dividend payout ratio is presently 16.09%.

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.