State Street Corp Purchases 77,143 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

State Street Corp raised its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 6.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,264,359 shares of the financial services provider’s stock after purchasing an additional 77,143 shares during the quarter. State Street Corp owned 2.82% of Old Second Bancorp worth $19,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Deerfield Management Company L.P. Series C bought a new stake in Old Second Bancorp during the second quarter valued at approximately $759,000. AQR Capital Management LLC grew its position in shares of Old Second Bancorp by 20.1% during the 2nd quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider’s stock valued at $4,561,000 after acquiring an additional 51,652 shares during the period. Graham Capital Wealth Management LLC purchased a new stake in shares of Old Second Bancorp in the 2nd quarter worth $696,000. BNP Paribas Financial Markets raised its holdings in Old Second Bancorp by 271.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 32,967 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 24,084 shares during the period. Finally, CWM LLC lifted its position in Old Second Bancorp by 36.3% during the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 2,123 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Old Second Bancorp Stock Up 1.0 %

Shares of OSBC opened at $17.84 on Tuesday. Old Second Bancorp, Inc. has a 12-month low of $13.00 and a 12-month high of $19.37. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $800.18 million, a PE ratio of 9.64 and a beta of 1.08. The business’s 50 day moving average is $17.81 and its 200 day moving average is $16.39.

Old Second Bancorp (NASDAQ:OSBC) last released 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 firm had revenue of $71.16 million for 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%. Research analysts expect that Old Second Bancorp, Inc. will post 1.95 earnings per share for the current fiscal year.

Old Second Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were given a dividend of $0.06 per share. 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.35%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 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.