Davis Asset Management L.P. Acquires 245,523 Shares of Old Second Bancorp, Inc. $OSBC

Davis Asset Management L.P. lifted its holdings in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,745,523 shares of the financial services provider’s stock after acquiring an additional 245,523 shares during the period. Old Second Bancorp makes up approximately 1.2% of Davis Asset Management L.P.’s portfolio, making the stock its 26th biggest position. Davis Asset Management L.P.’s holdings in Old Second Bancorp were worth $34,038,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. American Century Companies Inc. grew its stake in shares of Old Second Bancorp by 13.1% in the 3rd quarter. American Century Companies Inc. now owns 1,387,891 shares of the financial services provider’s stock valued at $23,990,000 after buying an additional 160,429 shares during the period. Kennedy Capital Management LLC grew its stake in shares of Old Second Bancorp by 9.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,093,318 shares of the financial services provider’s stock valued at $18,898,000 after buying an additional 96,326 shares during the period. Stieven Capital Advisors L.P. grew its stake in shares of Old Second Bancorp by 8.5% in the 3rd quarter. Stieven Capital Advisors L.P. now owns 778,028 shares of the financial services provider’s stock valued at $13,448,000 after buying an additional 61,000 shares during the period. Blair William & Co. IL grew its stake in shares of Old Second Bancorp by 757.0% in the 3rd quarter. Blair William & Co. IL now owns 154,436 shares of the financial services provider’s stock valued at $2,669,000 after buying an additional 136,416 shares during the period. Finally, EJF Capital LLC grew its stake in shares of Old Second Bancorp by 21.3% in the 3rd quarter. EJF Capital LLC now owns 173,834 shares of the financial services provider’s stock valued at $3,005,000 after buying an additional 30,548 shares during the period. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Price Performance

Old Second Bancorp stock opened at $22.50 on Friday. Old Second Bancorp, Inc. has a 52 week low of $16.42 and a 52 week high of $22.54. The company’s 50 day moving average price is $21.16 and its two-hundred day moving average price is $20.41. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.16 billion, a P/E ratio of 13.39 and a beta of 0.71.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.03). Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%.The firm had revenue of $93.77 million for the quarter, compared to the consensus estimate of $94.80 million. On average, equities analysts predict that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 16.67%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on OSBC shares. Piper Sandler reduced their target price on Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Finally, Stephens started coverage on Old Second Bancorp in a research note on Friday, March 27th. They issued an “overweight” rating and a $23.00 target price for the company. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Old Second Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.