Charles Schwab Investment Management Inc. Increases Stake in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Charles Schwab Investment Management Inc. lifted its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358,346 shares of the financial services provider’s stock after acquiring an additional 25,570 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Old Second Bancorp were worth $5,587,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. nVerses Capital LLC purchased a new position in shares of Old Second Bancorp during the 2nd quarter worth about $33,000. Innealta Capital LLC purchased a new position in shares of Old Second Bancorp during the 2nd quarter worth about $49,000. CWM LLC lifted its holdings in shares of Old Second Bancorp by 36.3% during the 3rd quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 2,123 shares during the period. Intech Investment Management LLC purchased a new position in shares of Old Second Bancorp during the 3rd quarter worth about $158,000. Finally, Princeton Capital Management LLC purchased a new position in shares of Old Second Bancorp during the 2nd quarter worth about $189,000. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Stock Down 1.1 %

Shares of NASDAQ:OSBC opened at $18.51 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. Old Second Bancorp, Inc. has a 52-week low of $13.00 and a 52-week high of $19.37. The company has a 50 day moving average of $17.43 and a two-hundred day moving average of $16.18. The company has a market capitalization of $830.23 million, a price-to-earnings ratio of 10.01 and a beta of 1.08.

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

Old Second Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 25th were given a $0.06 dividend. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.24 annualized dividend and a yield of 1.30%. Old Second Bancorp’s dividend payout ratio (DPR) is 12.97%.

Analysts Set New Price Targets

Several research firms recently commented on OSBC. Raymond James lowered shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $19.00 to $18.00 in a report on Tuesday, September 17th. DA Davidson set a $18.00 price target on shares of Old Second Bancorp in a report on Thursday, October 17th. Finally, Piper Sandler raised their price target on shares of Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a report on Friday, October 18th.

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.