AlphaQuest LLC Sells 6,684 Shares of Old Second Bancorp, Inc. $OSBC

AlphaQuest LLC lowered its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 13.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,988 shares of the financial services provider’s stock after selling 6,684 shares during the quarter. AlphaQuest LLC’s holdings in Old Second Bancorp were worth $763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Old Second Bancorp by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,711,390 shares of the financial services provider’s stock worth $45,118,000 after buying an additional 73,672 shares during the period. FJ Capital Management LLC raised its stake in shares of Old Second Bancorp by 0.8% in the first quarter. FJ Capital Management LLC now owns 1,810,720 shares of the financial services provider’s stock worth $30,130,000 after buying an additional 15,108 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of 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 worth $24,599,000 after buying an additional 630,265 shares during the period. American Century Companies Inc. raised its stake in shares of Old Second Bancorp by 9.7% in the first quarter. American Century Companies Inc. now owns 1,139,741 shares of the financial services provider’s stock worth $18,965,000 after buying an additional 101,246 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Old Second Bancorp by 0.8% in the first quarter. The Manufacturers Life Insurance Company now owns 954,275 shares of the financial services provider’s stock worth $15,879,000 after buying an additional 7,337 shares during the period. Institutional investors own 67.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OSBC shares. Piper Sandler reissued an “overweight” rating and set a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. DA Davidson lifted their target price on Old Second Bancorp from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Saturday. Keefe, Bruyette & Woods lifted their target price on Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Wall Street Zen upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $21.63.

Old Second Bancorp Price Performance

Old Second Bancorp stock opened at $18.56 on Monday. Old Second Bancorp, Inc. has a 52-week low of $14.14 and a 52-week high of $19.46. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12. The firm’s fifty day moving average is $17.87 and its 200 day moving average is $17.28. The company has a market cap of $977.18 million, a price-to-earnings ratio of 12.29 and a beta of 0.80.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $95.88 million for the quarter, compared to the consensus estimate of $80.45 million. Old Second Bancorp had a net margin of 18.89% and a return on equity of 13.10%. Sell-side analysts forecast that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 31st will be given a dividend of $0.07 per share. The ex-dividend date is Friday, October 31st. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Old Second Bancorp’s dividend payout ratio is 18.54%.

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.