Victory Capital Management Inc. Takes Position in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Victory Capital Management Inc. purchased a new position in Old Second Bancorp, Inc. (NASDAQ:OSBC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,583 shares of the financial services provider’s stock, valued at approximately $321,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Old Second Bancorp by 1.9% during the first quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock valued at $33,548,000 after acquiring an additional 45,955 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Old Second Bancorp by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock worth $25,188,000 after purchasing an additional 138,253 shares during the last quarter. American Century Companies Inc. boosted its position in Old Second Bancorp by 19.7% in the second quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock worth $11,851,000 after purchasing an additional 131,623 shares during the last quarter. Davis Asset Management L.P. purchased a new position in shares of Old Second Bancorp during the 2nd quarter valued at about $8,623,000. Finally, Assenagon Asset Management S.A. lifted its position 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 valued at $6,915,000 after buying an additional 285,314 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 research firms recently commented on OSBC. Raymond James cut Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $19.00 to $18.00 in a report on Tuesday, September 17th. DA Davidson set a $18.00 target price on Old Second Bancorp in a research report on Thursday, October 17th. Finally, Piper Sandler boosted their target price on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Friday, October 18th.

Old Second Bancorp Stock Down 0.7 %

Shares of OSBC stock opened at $18.60 on Friday. The stock’s 50-day simple moving average is $16.86 and its 200-day simple moving average is $15.93. 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 capitalization of $834.27 million, a PE ratio of 10.05 and a beta of 1.06. Old Second Bancorp, Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $19.37.

Old Second Bancorp (NASDAQ:OSBC) last announced 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. The business had revenue of $71.16 million for the quarter, compared to analyst estimates of $70.95 million. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. Equities analysts expect that Old Second Bancorp, Inc. will post 1.95 earnings per share for the current year.

Old Second Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.29%. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, October 25th. Old Second Bancorp’s dividend payout ratio (DPR) is 12.97%.

Old Second Bancorp 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.