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

Principal Financial Group Inc. grew its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 11.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,243 shares of the financial services provider’s stock after buying 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 quarter.

A number of other large investors have also made changes to their positions in OSBC. Semanteon Capital Management LP boosted its stake in shares of Old Second Bancorp by 67.1% during the 3rd quarter. Semanteon Capital Management LP now owns 36,880 shares of the financial services provider’s stock worth $575,000 after buying an additional 14,805 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Old Second Bancorp by 180.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 443,527 shares of the financial services provider’s stock worth $6,915,000 after purchasing an additional 285,314 shares in the last quarter. Hunter Perkins Capital Management LLC raised its stake in shares of Old Second Bancorp by 3.7% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 52,955 shares of the financial services provider’s stock worth $826,000 after purchasing an additional 1,870 shares in the last quarter. CWM LLC grew its stake in shares of Old Second Bancorp by 36.3% in the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock valued at $124,000 after buying an additional 2,123 shares in the last quarter. Finally, Lakewood Asset Management LLC increased its holdings in Old Second Bancorp by 8.8% during the third quarter. Lakewood Asset Management LLC now owns 19,951 shares of the financial services provider’s stock worth $311,000 after buying an additional 1,612 shares during the last quarter. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Trading Up 1.1 %

OSBC stock opened at $18.71 on Monday. Old Second Bancorp, Inc. has a one year low of $13.00 and a one year high of $18.86. The stock has a market cap of $839.14 million, a price-to-earnings ratio of 10.11 and a beta of 1.06. The company has a fifty day moving average price of $16.64 and a two-hundred day moving average price of $15.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $71.16 million during the quarter, compared to the consensus estimate of $70.95 million. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. Equities analysts anticipate that Old Second Bancorp, Inc. will post 1.95 EPS for the current year.

Old Second Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s dividend payout ratio (DPR) is 12.97%.

Analyst Ratings Changes

A number of brokerages have recently commented on OSBC. Piper Sandler lifted their price objective on shares of Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Raymond James cut Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $19.00 to $18.00 in a report on Tuesday, September 17th. Finally, DA Davidson set a $18.00 price target on Old Second Bancorp in a research report on Thursday, October 17th.

About Old Second Bancorp

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.