Ieq Capital LLC Buys Shares of 50,309 Old Second Bancorp, Inc. $OSBC

Ieq Capital LLC purchased a new stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 50,309 shares of the financial services provider’s stock, valued at approximately $1,173,000. Ieq Capital LLC owned about 0.10% of Old Second Bancorp at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Harbour Investments Inc. bought a new position in Old Second Bancorp during the fourth quarter worth about $26,000. Rockefeller Capital Management L.P. bought a new position in Old Second Bancorp in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its stake in Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,215 shares in the last quarter. Parkside Financial Bank & Trust purchased a new position in Old Second Bancorp in the 4th quarter valued at approximately $45,000. Finally, Clearstead Advisors LLC raised its holdings in 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 valued at $47,000 after acquiring an additional 2,159 shares during the period. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Zacks Research upgraded Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Raymond James Financial initiated coverage on Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective on the stock. DA Davidson lifted their target price on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Piper Sandler reiterated an “overweight” rating and set a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Old Second Bancorp presently has a consensus rating of “Buy” and a consensus price target of $25.40.

Insiders Place Their Bets

In other Old Second Bancorp news, CEO James Eccher sold 19,313 shares of Old Second Bancorp stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $25.61, for a total transaction of $494,605.93. Following the completion of the sale, the chief executive officer owned 303,399 shares of the company’s stock, valued at $7,770,048.39. The trade was a 5.98% decrease in their ownership of the stock. 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 owned by insiders.

Old Second Bancorp Trading Up 0.2%

Shares of Old Second Bancorp stock opened at $25.25 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. Old Second Bancorp, Inc. has a 1 year low of $16.65 and a 1 year high of $26.06. The firm has a market cap of $1.28 billion, a PE ratio of 14.51 and a beta of 0.70. The company has a 50 day simple moving average of $24.19 and a two-hundred day simple moving average of $21.92.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. Analysts expect that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

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

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.