JPMorgan Chase & Co. Has $17.17 Million Stock Position in Old Second Bancorp, Inc. (NASDAQ:OSBC)

JPMorgan Chase & Co. increased its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 16.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,101,634 shares of the financial services provider’s stock after purchasing an additional 153,187 shares during the period. JPMorgan Chase & Co.’s holdings in Old Second Bancorp were worth $17,174,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of OSBC. Quantbot Technologies LP boosted its stake in Old Second Bancorp by 134.0% during the third quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after buying an additional 3,587 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Old Second Bancorp during the 3rd quarter worth about $101,000. CWM LLC boosted its position 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 valued at $124,000 after acquiring an additional 2,123 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Old Second Bancorp during the third quarter valued at approximately $158,000. Finally, Paloma Partners Management Co bought a new stake in shares of Old Second Bancorp in the 3rd quarter valued at approximately $204,000. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Old Second Bancorp Stock Up 0.9 %

NASDAQ OSBC opened at $17.79 on Friday. The stock’s 50 day simple moving average is $18.10 and its 200 day simple moving average is $16.70. Old Second Bancorp, Inc. has a one year low of $13.00 and a one year high of $19.37. The firm has a market cap of $797.93 million, a PE ratio of 9.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. The company had revenue of $71.16 million for the quarter, compared to analysts’ expectations of $70.95 million. As a group, sell-side 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 business 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 represents a $0.24 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, October 25th. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s dividend payout ratio (DPR) is presently 12.97%.

Wall Street Analyst Weigh In

OSBC has been the subject of several analyst reports. DA Davidson set a $18.00 target price on Old Second Bancorp in a research report on Thursday, October 17th. Raymond James raised Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Piper Sandler upped their target price on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a report on Friday, October 18th.

Insiders Place Their Bets

In other news, Director Rocks Patti Temple bought 5,625 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the completion of the transaction, the director now directly owns 18,679 shares in the company, valued at $332,299.41. The trade was a 43.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.80% of the company’s stock.

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.