MQS Management LLC Invests $547,000 in Old Second Bancorp, Inc. $OSBC

MQS Management LLC purchased a new position in Old Second Bancorp, Inc. (NASDAQ:OSBC) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 31,654 shares of the financial services provider’s stock, valued at approximately $547,000.

A number of other large investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Old Second Bancorp by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 1,067 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Old Second Bancorp by 74.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock worth $24,599,000 after purchasing an additional 630,265 shares during the last quarter. Empowered Funds LLC boosted its stake in Old Second Bancorp by 38.7% in the 1st quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider’s stock worth $2,794,000 after purchasing an additional 46,890 shares in the last quarter. Jane Street Group LLC bought a new position in Old Second Bancorp in the 1st quarter worth about $1,378,000. Finally, Strs Ohio purchased a new stake in Old Second Bancorp during the 1st quarter valued at about $88,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Down 2.2%

OSBC opened at $20.64 on Wednesday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 12.66 and a beta of 0.82. The firm has a 50 day moving average price of $20.22 and a 200-day moving average price of $18.72. Old Second Bancorp, Inc. has a twelve month low of $14.14 and a twelve month high of $22.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $95.21 million during the quarter, compared to the consensus estimate of $82.49 million. Old Second Bancorp had a net margin of 20.00% and a return on equity of 13.36%. Equities research analysts forecast that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Friday, January 30th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. Old Second Bancorp’s payout ratio is presently 17.18%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OSBC shares. Keefe, Bruyette & Woods lifted their target price on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. DA Davidson increased their target price on Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen raised Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Old Second Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.

Insider Buying and Selling

In other Old Second Bancorp news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $20.98, for a total value of $41,960.00. Following the transaction, the executive vice president owned 24,874 shares of the company’s stock, valued at approximately $521,856.52. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.

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.