Principal Financial Group Inc. Has $503,000 Stake in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Principal Financial Group Inc. lifted its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,243 shares of the financial services provider’s stock after purchasing an additional 3,313 shares during the quarter. Principal Financial Group Inc.’s holdings in Old Second Bancorp were worth $503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in OSBC. nVerses Capital LLC acquired a new position in shares of Old Second Bancorp during the second quarter worth $33,000. Innealta Capital LLC acquired a new position in Old Second Bancorp in the 2nd quarter worth about $49,000. CWM LLC raised its position in Old Second Bancorp by 36.3% in the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 2,123 shares during the last quarter. Princeton Capital Management LLC acquired a new stake in shares of Old Second Bancorp during the second quarter valued at about $189,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Old Second Bancorp by 11.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,632 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 1,807 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Old Second Bancorp Stock Performance

NASDAQ:OSBC opened at $18.71 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. Old Second Bancorp, Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $18.86. The company has a 50 day simple moving average of $16.64 and a two-hundred day simple moving average of $15.79. The company has a market capitalization of $839.14 million, a PE ratio of 10.11 and a beta of 1.06.

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

Old Second Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were given a $0.06 dividend. The ex-dividend date was Friday, October 25th. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.28%. Old Second Bancorp’s dividend payout ratio (DPR) is 12.97%.

Analyst Ratings Changes

OSBC has been the topic of several recent research reports. Raymond James downgraded shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $19.00 to $18.00 in a research report on Tuesday, September 17th. Piper Sandler lifted their price target 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. Finally, DA Davidson set a $18.00 price objective on Old Second Bancorp in a report on Thursday, October 17th.

Old Second Bancorp Company Profile

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.