Connor Clark & Lunn Investment Management Ltd. Has $285,000 Stock Position in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 27.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,272 shares of the financial services provider’s stock after selling 6,859 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Old Second Bancorp were worth $285,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of OSBC. nVerses Capital LLC acquired a new stake in shares of Old Second Bancorp in the 2nd quarter valued at approximately $33,000. Innealta Capital LLC acquired a new stake in Old Second Bancorp in the second quarter valued at $49,000. CWM LLC grew its position in shares of Old Second Bancorp by 36.3% in the 3rd quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 2,123 shares during the period. Princeton Capital Management LLC bought a new position in shares of Old Second Bancorp in the 2nd quarter valued at about $189,000. Finally, SG Americas Securities LLC acquired a new position in shares of Old Second Bancorp during the 2nd quarter worth about $260,000. 67.76% of the stock is owned by institutional investors and hedge funds.

Old Second Bancorp Stock Performance

NASDAQ OSBC opened at $18.60 on Friday. The stock has a market cap of $834.27 million, a PE ratio of 10.05 and a beta of 1.06. 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 50-day moving average of $16.86 and a 200-day moving average of $15.94. Old Second Bancorp, Inc. has a 52-week low of $13.00 and a 52-week high of $19.37.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. The firm had revenue of $71.16 million during the quarter, compared to the consensus estimate of $70.95 million. On average, sell-side 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 declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were paid a $0.06 dividend. The ex-dividend date was Friday, October 25th. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.29%. Old Second Bancorp’s payout ratio is 12.97%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on OSBC shares. Piper Sandler raised 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 cut Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $19.00 to $18.00 in a research report on Tuesday, September 17th. Finally, DA Davidson set a $18.00 target price on Old Second Bancorp in a report on Thursday, October 17th.

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.