Principal Financial Group Inc. Acquires 3,313 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Principal Financial Group Inc. increased its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 11.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 32,243 shares of the financial services provider’s stock after purchasing an additional 3,313 shares during the period. Principal Financial Group Inc. owned approximately 0.07% of Old Second Bancorp worth $503,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Princeton Capital Management LLC lifted its holdings in shares of Old Second Bancorp by 7.8% during the third quarter. Princeton Capital Management LLC now owns 13,770 shares of the financial services provider’s stock worth $215,000 after buying an additional 1,000 shares during the last quarter. Lakewood Asset Management LLC raised its stake in Old Second Bancorp by 8.8% during the 3rd quarter. Lakewood Asset Management LLC now owns 19,951 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 1,612 shares during the last quarter. Hunter Perkins Capital Management LLC boosted its holdings in Old Second Bancorp by 3.7% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 52,955 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 1,870 shares during the period. Rhumbline Advisers grew its position in Old Second Bancorp by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 73,155 shares of the financial services provider’s stock worth $1,083,000 after purchasing an additional 1,923 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Old Second Bancorp by 36.3% during the 3rd quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 2,123 shares during the period. Institutional investors own 67.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director Rocks Patti Temple bought 5,625 shares of Old Second Bancorp stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the purchase, the director now owns 18,679 shares of the company’s stock, valued at approximately $332,299.41. This trade represents a 43.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OSBC shares. Piper Sandler increased their target price on shares of Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Raymond James upgraded Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, DA Davidson set a $18.00 price objective on Old Second Bancorp in a research report on Thursday, October 17th.

Old Second Bancorp Price Performance

Shares of Old Second Bancorp stock opened at $17.72 on Monday. Old Second Bancorp, Inc. has a twelve month low of $13.00 and a twelve month high of $19.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $794.80 million, a P/E ratio of 9.58 and a beta of 1.08. The firm’s 50-day simple moving average is $18.04 and its 200-day simple moving average is $16.62.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. The company had revenue of $71.16 million for the quarter, compared to the consensus estimate of $70.95 million. As a group, research analysts expect that Old Second Bancorp, Inc. will post 1.95 EPS for the current fiscal year.

Old Second Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 25th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.35%. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, October 25th. Old Second Bancorp’s dividend payout ratio is 12.97%.

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.