Jupiter Topco LLC Takes $612,000 Position in Old Second Bancorp, Inc. $OSBC

Jupiter Topco LLC purchased a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 26,232 shares of the financial services provider’s stock, valued at approximately $612,000.

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

Insider Buying and Selling at Old Second Bancorp

In related news, CEO James Eccher sold 19,313 shares of Old Second Bancorp stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $25.61, for a total value of $494,605.93. Following the transaction, the chief executive officer directly owned 303,399 shares of the company’s stock, valued at $7,770,048.39. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hugh McLean sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $25.73, for a total value of $643,250.00. Following the completion of the sale, the director owned 135,351 shares in the company, valued at $3,482,581.23. The trade was a 15.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 124,000 shares of company stock worth $3,168,367. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on OSBC. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a report on Wednesday, August 26th. DA Davidson lifted their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Piper Sandler reiterated an “overweight” rating and set a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Raymond James Financial started coverage on shares of Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price target for the company. Finally, Zacks Research cut Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.40.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC opened at $25.72 on Monday. The company has a 50 day simple moving average of $24.59 and a 200 day simple moving average of $22.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. Old Second Bancorp, Inc. has a 1 year low of $16.65 and a 1 year high of $26.06. The firm has a market cap of $1.31 billion, a PE ratio of 14.78 and a beta of 0.70.

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, meeting 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, research analysts forecast that Old Second Bancorp, Inc. will post 2.2 EPS for the current year.

Old Second Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 31st were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.28 annualized dividend and a yield of 1.1%. Old Second Bancorp’s payout ratio 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.