Sanctuary Advisors LLC Buys New Shares in Old Second Bancorp, Inc. $OSBC

Sanctuary Advisors LLC purchased a new position in Old Second Bancorp, Inc. (NASDAQ:OSBC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 33,909 shares of the financial services provider’s stock, valued at approximately $791,000. Sanctuary Advisors LLC owned about 0.07% of Old Second Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Old Second Bancorp during the 2nd quarter valued at $100,245,000. Davis Asset Management L.P. acquired a new position in shares of Old Second Bancorp in the 2nd quarter worth $41,976,000. Boston Partners acquired a new position in shares of Old Second Bancorp in the 4th quarter worth $15,994,000. Wellington Management Group LLP raised its position in shares of Old Second Bancorp by 521.2% during 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. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Old Second Bancorp by 74.3% during 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 during the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Stock Up 0.3%

Old Second Bancorp stock opened at $25.24 on Friday. Old Second Bancorp, Inc. has a twelve month low of $16.65 and a twelve month high of $26.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $1.28 billion, a PE ratio of 14.51 and a beta of 0.70. The firm’s 50 day moving average price is $24.33 and its two-hundred day moving average price is $21.98.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly 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 net margin of 20.22% and a return on equity of 12.79%. On average, research analysts predict that Old Second Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 31st were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, July 31st. Old Second Bancorp’s payout ratio is currently 16.09%.

Analyst Ratings Changes

A number of research firms recently weighed in on OSBC. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday. Zacks Research upgraded Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. DA Davidson upped their price objective on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Raymond James Financial initiated coverage on shares of Old Second Bancorp in a report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 target price for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $25.40.

Insider Activity at Old Second Bancorp

In related news, CEO James Eccher sold 19,313 shares of the 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 owned 303,399 shares in the company, valued at approximately $7,770,048.39. This represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.60% of the company’s stock.

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.