Davis Asset Management L.P. Makes New Investment in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Davis Asset Management L.P. bought a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 582,268 shares of the financial services provider’s stock, valued at approximately $8,623,000. Davis Asset Management L.P. owned about 1.30% of Old Second Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blair William & Co. IL lifted its stake in shares of Old Second Bancorp by 67.9% in the 2nd quarter. Blair William & Co. IL now owns 18,610 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 7,525 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Old Second Bancorp by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock valued at $25,188,000 after acquiring an additional 138,253 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Old Second Bancorp by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock valued at $11,851,000 after acquiring an additional 131,623 shares during the last quarter. Hudson Edge Investment Partners Inc. bought a new position in shares of Old Second Bancorp in the 2nd quarter valued at $293,000. Finally, Great Lakes Advisors LLC lifted its stake in shares of Old Second Bancorp by 6.7% in the 2nd quarter. Great Lakes Advisors LLC now owns 196,064 shares of the financial services provider’s stock valued at $2,904,000 after acquiring an additional 12,280 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

Old Second Bancorp Stock Down 2.9 %

Shares of NASDAQ:OSBC opened at $16.25 on Friday. The firm has a market cap of $728.75 million, a P/E ratio of 8.25 and a beta of 1.07. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. Old Second Bancorp, Inc. has a 12-month low of $13.00 and a 12-month high of $17.46. The business has a fifty day simple moving average of $16.36 and a 200 day simple moving average of $14.86.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old Second Bancorp had a return on equity of 14.83% and a net margin of 25.62%. The company had revenue of $70.82 million for the quarter, compared to the consensus estimate of $70.03 million. Analysts predict that Old Second Bancorp, Inc. will post 1.91 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 26th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $0.20 dividend on an annualized basis and a yield of 1.23%. Old Second Bancorp’s payout ratio is currently 10.15%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OSBC shares. Raymond James cut Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th. DA Davidson increased their price target on Old Second Bancorp from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Piper Sandler increased their price target on Old Second Bancorp from $18.00 to $19.50 and gave the company an “overweight” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.38.

Insiders Place Their Bets

In other Old Second Bancorp news, Director John Ladowicz sold 30,585 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $16.22, for a total transaction of $496,088.70. Following the completion of the sale, the director now directly owns 189,192 shares in the company, valued at approximately $3,068,694.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.80% of the company’s stock.

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.