Hudson Edge Investment Partners Inc. Sells 26,159 Shares of Old Second Bancorp, Inc. $OSBC

Hudson Edge Investment Partners Inc. decreased its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 44.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,082 shares of the financial services provider’s stock after selling 26,159 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Old Second Bancorp were worth $647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Boston Partners acquired a new position in shares of Old Second Bancorp during the 4th quarter valued at $15,994,000. Wellington Management Group LLP grew its holdings in Old Second Bancorp by 521.2% in the fourth quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock worth $18,909,000 after purchasing an additional 813,600 shares during the period. Goldman Sachs Group Inc. increased its stake in Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after purchasing an additional 630,265 shares in the last quarter. Vanguard Group Inc. increased its stake in Old Second Bancorp by 20.4% in the third quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock valued at $56,522,000 after purchasing an additional 553,169 shares in the last quarter. Finally, River Street Advisors LLC raised its holdings in shares of Old Second Bancorp by 104.0% during the first quarter. River Street Advisors LLC now owns 746,660 shares of the financial services provider’s stock valued at $15,053,000 after purchasing an additional 380,589 shares during the period. Institutional investors own 67.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Stephens began coverage on Old Second Bancorp in a research report on Friday, March 27th. They issued an “overweight” rating and a $23.00 target price for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.75.

Old Second Bancorp Stock Performance

NASDAQ OSBC opened at $23.23 on Friday. The company has a fifty day simple moving average of $21.56 and a 200 day simple moving average of $20.74. Old Second Bancorp, Inc. has a 12-month low of $16.42 and a 12-month high of $23.95. 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 company has a market cap of $1.19 billion, a P/E ratio of 13.83 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.67%. The business had revenue of $93.77 million for the quarter, compared to the consensus estimate of $94.80 million. Sell-side analysts predict that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Friday, May 1st were given a dividend of $0.07 per share. 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 payout ratio is presently 16.67%.

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.