Principal Financial Group Inc. Purchases 3,313 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Principal Financial Group Inc. increased its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 11.5% during the third quarter, Holdings Channel reports. The fund owned 32,243 shares of the financial services provider’s stock after purchasing an additional 3,313 shares during the period. Principal Financial Group Inc.’s holdings in Old Second Bancorp were worth $503,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OSBC. Davis Asset Management L.P. acquired a new position in Old Second Bancorp in the second quarter worth $8,623,000. Assenagon Asset Management S.A. raised its holdings in shares of Old Second Bancorp by 180.3% in the third quarter. Assenagon Asset Management S.A. now owns 443,527 shares of the financial services provider’s stock valued at $6,915,000 after buying an additional 285,314 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Old Second Bancorp by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock worth $25,188,000 after buying an additional 138,253 shares in the last quarter. American Century Companies Inc. grew its holdings in Old Second Bancorp by 19.7% during the 2nd quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock worth $11,851,000 after acquiring an additional 131,623 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Old Second Bancorp during the 3rd quarter worth about $1,962,000. 67.76% of the stock is owned by institutional investors and hedge funds.

Old Second Bancorp Stock Performance

Old Second Bancorp stock opened at $17.72 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp, Inc. has a 1 year low of $13.00 and a 1 year high of $19.37. The company’s 50-day moving average is $18.04 and its two-hundred day moving average is $16.62. The company has a market cap of $794.80 million, a PE ratio of 9.58 and a beta of 1.08.

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

Old Second Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were given a $0.06 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.35%. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s dividend payout ratio is currently 12.97%.

Insiders Place Their Bets

In other Old Second Bancorp news, Director Rocks Patti Temple bought 5,625 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $17.79 per share, with a total value of $100,068.75. Following the purchase, the director now owns 18,679 shares in the company, valued at $332,299.41. This trade represents a 43.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OSBC shares. Raymond James raised shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. DA Davidson set a $18.00 price objective on shares of Old Second Bancorp in a research report on Thursday, October 17th. Finally, Piper Sandler increased their price objective on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Friday, October 18th.

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.