Great Lakes Advisors LLC Takes $4.75 Million Position in Old Second Bancorp, Inc. $OSBC

Great Lakes Advisors LLC bought a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 203,909 shares of the financial services provider’s stock, valued at approximately $4,755,000. Great Lakes Advisors LLC owned approximately 0.40% of Old Second Bancorp as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Harbour Investments Inc. acquired a new stake in Old Second Bancorp during the fourth quarter worth about $26,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Old Second Bancorp during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its position in shares of Old Second Bancorp by 458.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,215 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in Old Second Bancorp in the fourth quarter valued at approximately $45,000. Finally, Clearstead Advisors LLC raised its position in Old Second Bancorp by 793.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 2,159 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

Insider Transactions at Old Second Bancorp

In other Old Second Bancorp news, CEO James Eccher sold 55,687 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $25.46, for a total value of $1,417,791.02. Following the completion of the transaction, the chief executive officer directly owned 322,712 shares in the company, valued at approximately $8,216,247.52. This trade represents a 14.72% decrease 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by insiders.

Old Second Bancorp Stock Performance

Shares of Old Second Bancorp stock opened at $25.04 on Thursday. Old Second Bancorp, Inc. has a fifty-two week low of $16.65 and a fifty-two week high of $26.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $1.27 billion, a P/E ratio of 14.39 and a beta of 0.70. The company’s 50 day moving average price is $23.88 and its two-hundred day moving average price is $21.75.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. On average, equities analysts forecast that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Friday, July 31st were given a dividend of $0.07 per share. The ex-dividend date was Friday, July 31st. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. Old Second Bancorp’s payout ratio is currently 16.09%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OSBC. Raymond James Financial started coverage on Old Second Bancorp in a research note on Tuesday, July 7th. They set an “outperform” rating and a $26.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. DA Davidson upped their price objective on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Zacks Research raised Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $25.40.

Old Second Bancorp 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.