Great Lakes Advisors LLC Purchases Shares of 203,909 Old Second Bancorp, Inc. $OSBC

Great Lakes Advisors LLC purchased a new stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 203,909 shares of the financial services provider’s stock, valued at approximately $4,755,000.

A number of other hedge funds also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 1,067 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Old Second Bancorp by 74.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after buying an additional 630,265 shares during the last quarter. Empowered Funds LLC grew its position in shares of Old Second Bancorp by 38.7% in the 1st quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider’s stock valued at $2,794,000 after buying an additional 46,890 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Old Second Bancorp in the first quarter valued at about $1,378,000. Finally, Strs Ohio acquired a new stake in shares of Old Second Bancorp in the first quarter valued at about $88,000. Institutional investors and hedge funds own 67.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on OSBC. Zacks Research raised Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. DA Davidson increased their target price on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Piper Sandler restated an “overweight” rating and set a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Finally, Raymond James Financial started coverage on shares of Old Second Bancorp in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price target on the stock. One 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $25.40.

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 that occurred on Tuesday, August 11th. The stock was sold at an average price of $25.46, for a total transaction of $1,417,791.02. Following the transaction, the chief executive officer directly owned 322,712 shares in the company, valued at approximately $8,216,247.52. This represents a 14.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.60% of the company’s stock.

Old Second Bancorp Stock Performance

OSBC stock opened at $25.04 on Thursday. The firm has a market cap of $1.27 billion, a PE ratio of 14.39 and a beta of 0.70. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $23.88 and a 200-day moving average price of $21.75. Old Second Bancorp, Inc. has a 1-year low of $16.65 and a 1-year high of $26.06.

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

Old Second Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 31st were paid a $0.07 dividend. 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 16.09%.

About Old Second Bancorp

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.