Empowered Funds LLC Purchases Shares of 248,627 Old Second Bancorp, Inc. $OSBC

Empowered Funds LLC acquired a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 248,627 shares of the financial services provider’s stock, valued at approximately $5,798,000. Empowered Funds LLC owned 0.49% of Old Second Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OSBC. Los Angeles Capital Management LLC boosted its holdings in Old Second Bancorp by 1.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 493 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Old Second Bancorp by 32.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 622 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Old Second Bancorp by 0.8% in the 4th quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock worth $2,186,000 after buying an additional 908 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after buying an additional 1,067 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Old Second Bancorp by 458.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,215 shares during the period. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Performance

Shares of OSBC opened at $25.24 on Monday. The stock has a fifty day moving average price of $24.33 and a two-hundred day moving average price of $21.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. Old Second Bancorp, Inc. has a 52-week low of $16.65 and a 52-week high of $26.06. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 14.51 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. Analysts predict that Old Second Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday. Zacks Research upgraded shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. 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 on the stock. Piper Sandler reiterated an “overweight” rating and set a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Finally, DA Davidson lifted their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Old Second Bancorp has an average rating of “Buy” and a consensus target price of $25.40.

Insider Buying and Selling

In other Old Second Bancorp news, CEO James Eccher sold 19,313 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $25.61, for a total transaction of $494,605.93. Following the sale, the chief executive officer owned 303,399 shares of the company’s stock, valued at $7,770,048.39. This represents a 5.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by corporate insiders.

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.