Point72 Asset Management L.P. Takes Position in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Point72 Asset Management L.P. acquired a new stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 18,535 shares of the financial services provider’s stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OSBC. Davis Asset Management L.P. acquired a new position in Old Second Bancorp during the 2nd quarter worth approximately $8,623,000. Assenagon Asset Management S.A. grew its stake in shares of Old Second Bancorp by 180.3% during the third quarter. Assenagon Asset Management S.A. now owns 443,527 shares of the financial services provider’s stock worth $6,915,000 after purchasing an additional 285,314 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Old Second Bancorp by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock valued at $25,188,000 after buying an additional 138,253 shares during the last quarter. American Century Companies Inc. raised its stake in Old Second Bancorp by 19.7% in the second quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock valued at $11,851,000 after buying an additional 131,623 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Old Second Bancorp during the third quarter worth approximately $1,962,000. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Stock Down 1.1 %

OSBC opened at $18.51 on Friday. The business has a 50 day moving average price of $17.43 and a two-hundred day moving average price of $16.18. Old Second Bancorp, Inc. has a 52 week low of $13.00 and a 52 week high of $19.37. The company has a market cap of $830.23 million, a PE ratio of 10.01 and a beta of 1.08. 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 (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, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $71.16 million for the quarter, compared to analyst estimates of $70.95 million. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. As a group, research analysts anticipate that Old Second Bancorp, Inc. will post 1.95 EPS for the current year.

Old Second Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a yield of 1.30%. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s payout ratio is currently 12.97%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Raymond James downgraded shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $19.00 to $18.00 in a research report on Tuesday, September 17th. Piper Sandler boosted their price objective on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, DA Davidson set a $18.00 target price on shares of Old Second Bancorp in a research report on Thursday, October 17th.

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.