Quarry LP Boosts Stock Position in Old Second Bancorp, Inc. $OSBC

Quarry LP raised its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 145.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,802 shares of the financial services provider’s stock after purchasing an additional 3,439 shares during the period. Quarry LP’s holdings in Old Second Bancorp were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hudson Edge Investment Partners Inc. grew its stake in Old Second Bancorp by 40.3% in the first quarter. Hudson Edge Investment Partners Inc. now owns 59,834 shares of the financial services provider’s stock valued at $996,000 after purchasing an additional 17,201 shares during the last quarter. Nuveen LLC purchased a new position in Old Second Bancorp in the first quarter valued at about $5,593,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Old Second Bancorp by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 843 shares during the last quarter. Bank of America Corp DE grew its stake in Old Second Bancorp by 44.2% in the fourth quarter. Bank of America Corp DE now owns 236,062 shares of the financial services provider’s stock valued at $4,197,000 after purchasing an additional 72,398 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Old Second Bancorp by 4,125.0% in the first quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 5,280 shares during the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Trading Up 0.2%

Old Second Bancorp stock opened at $18.48 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12. Old Second Bancorp, Inc. has a 52 week low of $14.14 and a 52 week high of $19.46. The company has a market capitalization of $972.97 million, a price-to-earnings ratio of 10.10 and a beta of 0.85. The stock has a 50-day moving average price of $18.02 and a 200 day moving average price of $17.08.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%.The firm had revenue of $75.13 million for the quarter, compared to analyst estimates of $63.58 million. Sell-side analysts anticipate that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Dividend Announcement

The company also recently announced a special dividend, which was paid on Monday, August 4th. Investors of record on Friday, July 25th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a dividend yield of 130.0%. Old Second Bancorp’s payout ratio is 13.11%.

Analysts Set New Price Targets

Several research firms have issued reports on OSBC. Wall Street Zen upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. DA Davidson raised their price target on Old Second Bancorp from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Finally, Piper Sandler reissued an “overweight” rating and issued a $24.50 price target (up previously from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Old Second Bancorp presently has a consensus rating of “Buy” and a consensus target price of $20.70.

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.