Old Second Bancorp, Inc. $OSBC Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 50.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,090 shares of the financial services provider’s stock after buying an additional 25,308 shares during the period. Principal Financial Group Inc.’s holdings in Old Second Bancorp were worth $1,514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OSBC. Los Angeles Capital Management LLC lifted its position in Old Second Bancorp by 1.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 493 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Old Second Bancorp by 12.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 540 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Old Second Bancorp by 32.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 622 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Old Second Bancorp by 0.8% during the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock worth $2,186,000 after purchasing an additional 908 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Old Second Bancorp by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 1,067 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OSBC. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research note on Monday. Raymond James Financial initiated coverage on Old Second Bancorp in a report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price objective for the company. Finally, DA Davidson raised their target price on shares of Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.40.

Old Second Bancorp Price Performance

Shares of NASDAQ:OSBC opened at $25.34 on Friday. The company has a 50-day simple moving average of $22.69 and a 200-day simple moving average of $21.23. Old Second Bancorp, Inc. has a one year low of $16.42 and a one year high of $25.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 14.56 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%.The firm had revenue of $96.59 million for the quarter, compared to analyst estimates of $94.88 million. On average, analysts predict that Old Second Bancorp, Inc. will post 2.2 EPS for the current year.

Old Second Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Friday, July 31st will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, July 31st. Old Second Bancorp’s dividend payout ratio (DPR) is presently 16.09%.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.