Davis Asset Management L.P. Has $34.04 Million Stock Holdings in Old Second Bancorp, Inc. $OSBC

Davis Asset Management L.P. grew its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 16.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,745,523 shares of the financial services provider’s stock after acquiring an additional 245,523 shares during the period. Old Second Bancorp accounts for approximately 1.2% of Davis Asset Management L.P.’s investment portfolio, making the stock its 26th biggest position. Davis Asset Management L.P. owned 3.31% of Old Second Bancorp worth $34,038,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OSBC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 acquiring an additional 1,067 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake 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 acquiring an additional 630,265 shares during the last quarter. Empowered Funds LLC lifted its stake 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 acquiring an additional 46,890 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Old Second Bancorp in the 1st quarter valued at $1,378,000. Finally, Strs Ohio bought a new position in shares of Old Second Bancorp in the 1st quarter valued at $88,000. 67.76% of the stock is currently owned by institutional investors.

Old Second Bancorp Stock Performance

OSBC stock opened at $22.50 on Friday. The stock has a 50-day moving average price of $21.16 and a 200-day moving average price of $20.41. Old Second Bancorp, Inc. has a 1-year low of $16.42 and a 1-year high of $22.54. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.16 billion, a PE ratio of 13.39 and a beta of 0.71.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.03). Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%.The business had revenue of $93.77 million during the quarter, compared to the consensus estimate of $94.80 million. As a group, equities research analysts expect that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Friday, May 1st were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. Old Second Bancorp’s dividend payout ratio (DPR) is 16.67%.

Wall Street Analysts Forecast Growth

OSBC has been the subject of a number of research reports. Stephens initiated coverage on Old Second Bancorp in a research note on Friday, March 27th. They issued an “overweight” rating and a $23.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Finally, Piper Sandler dropped their price target on Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

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.