Gamco Investors INC. ET AL Invests $566,000 in Old Second Bancorp, Inc. $OSBC

Gamco Investors INC. ET AL acquired a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 32,721 shares of the financial services provider’s stock, valued at approximately $566,000. Gamco Investors INC. ET AL owned about 0.06% of Old Second Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Old Second Bancorp by 20.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock valued at $56,522,000 after purchasing an additional 553,169 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Old Second Bancorp by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,204,884 shares of the financial services provider’s stock worth $38,111,000 after purchasing an additional 86,416 shares during the last quarter. FJ Capital Management LLC boosted its position in Old Second Bancorp by 1.5% during the second quarter. FJ Capital Management LLC now owns 1,837,333 shares of the financial services provider’s stock worth $32,594,000 after acquiring an additional 26,613 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Old Second Bancorp by 74.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock worth $24,599,000 after acquiring an additional 630,265 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Old Second Bancorp by 13.1% during the 3rd quarter. American Century Companies Inc. now owns 1,387,891 shares of the financial services provider’s stock worth $23,990,000 after purchasing an additional 160,429 shares during the period. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Old Second Bancorp news, insider Darin Patrick Campbell sold 35,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total transaction of $732,900.00. Following the transaction, the insider owned 274,589 shares of the company’s stock, valued at $5,749,893.66. This trade represents a 11.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $20.98, for a total value of $41,960.00. Following the completion of the sale, the executive vice president owned 24,874 shares in the company, valued at $521,856.52. The trade was a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 37,091 shares of company stock valued at $776,744 over the last 90 days. Insiders own 3.80% of the company’s stock.

Old Second Bancorp Price Performance

OSBC opened at $19.48 on Thursday. Old Second Bancorp, Inc. has a 52-week low of $14.14 and a 52-week high of $22.00. The company has a 50 day moving average of $20.20 and a two-hundred day moving average of $19.12. The company has a market cap of $1.03 billion, a P/E ratio of 11.95 and a beta of 0.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Old Second Bancorp had a net margin of 20.00% and a return on equity of 12.79%. The business had revenue of $95.20 million for the quarter, compared to analyst estimates of $82.49 million. On average, analysts expect that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

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

Analysts Set New Price Targets

Several research firms have commented on OSBC. DA Davidson lifted their price target on Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.63.

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.