Jacobs Asset Management LLC Trims Stake in Old Second Bancorp, Inc. $OSBC

Jacobs Asset Management LLC lessened its holdings in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 41.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 281,477 shares of the financial services provider’s stock after selling 196,740 shares during the quarter. Old Second Bancorp makes up 3.1% of Jacobs Asset Management LLC’s portfolio, making the stock its 15th largest position. Jacobs Asset Management LLC’s holdings in Old Second Bancorp were worth $5,489,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Harbour Investments Inc. purchased a new stake in Old Second Bancorp in the 4th quarter worth $26,000. EverSource Wealth Advisors LLC increased its stake in Old Second Bancorp by 458.5% in 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 in the last quarter. Parkside Financial Bank & Trust purchased a new stake in Old Second Bancorp in the 4th quarter worth $45,000. Clearstead Advisors LLC increased its stake in Old Second Bancorp by 793.8% in the 4th quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock worth $47,000 after buying an additional 2,159 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in 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 worth $49,000 after buying an additional 622 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Stephens assumed 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. Piper Sandler cut 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

Old Second Bancorp Stock Up 1.3%

Shares of NASDAQ:OSBC opened at $22.50 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. Old Second Bancorp, Inc. has a 12 month low of $16.42 and a 12 month high of $22.54. The company has a 50-day moving average price of $21.16 and a 200 day moving average price of $20.41. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 13.39 and a beta of 0.71.

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

Old Second Bancorp Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.2%. Old Second Bancorp’s dividend payout ratio (DPR) is 16.67%.

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.