Hsbc Holdings PLC Invests $1.54 Million in Old Second Bancorp, Inc. $OSBC

Hsbc Holdings PLC bought a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) during the second quarter, Holdings Channel.com reports. The fund bought 66,312 shares of the financial services provider’s stock, valued at approximately $1,541,000.

A number of other large investors have also added to or reduced their stakes in the business. Harbour Investments Inc. bought a new position in Old Second Bancorp during the fourth quarter worth $26,000. Rockefeller Capital Management L.P. bought a new position in shares of Old Second Bancorp in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC raised its position in shares of Old Second Bancorp by 458.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,215 shares during the period. Parkside Financial Bank & Trust acquired a new stake in shares of Old Second Bancorp during the 4th quarter worth about $45,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Old Second Bancorp by 793.8% during the 4th quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock worth $47,000 after buying an additional 2,159 shares during the last quarter. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Trading Down 0.6%

Shares of Old Second Bancorp stock opened at $25.08 on Tuesday. The firm has a 50-day moving average of $24.39 and a 200-day moving average of $22.01. The stock has a market cap of $1.28 billion, a PE ratio of 14.41 and a beta of 0.70. Old Second Bancorp, Inc. has a 52-week low of $16.65 and a 52-week high of $26.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. As a group, sell-side analysts forecast that Old Second Bancorp, Inc. will post 2.2 EPS for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 31st were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. Old Second Bancorp’s payout ratio is currently 16.09%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OSBC. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. Zacks Research upgraded Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. DA Davidson upped their target price on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Raymond James Financial began coverage on Old Second Bancorp in a research note on Tuesday, July 7th. They set an “outperform” rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $25.40.

Insider Activity

In other Old Second Bancorp news, CEO James Eccher sold 55,687 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $25.46, for a total transaction of $1,417,791.02. Following the transaction, the chief executive officer owned 322,712 shares in the company, valued at $8,216,247.52. This represents a 14.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by insiders.

Old Second Bancorp 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.