Victory Capital Management Inc. increased its position in Old Second Bancorp, Inc. (NASDAQ: OSBC – Get a rating) by 11.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor held 509,879 shares of the financial services provider after acquiring an additional 51,023 shares during the period. Victory Capital Management Inc. owned 1.15% of Old Second Bancorp worth $7,398,000 when it last filed with the SEC.
Several other institutional investors and hedge funds have also increased or reduced their stake in the company. Choreo LLC bought a new position in Old Second Bancorp in the first quarter worth approximately $218,000. Comerica Bank increased its holdings of Old Second Bancorp shares by 76.9% in the first quarter. Comerica Bank now owns 90,306 shares of the financial services provider valued at $1,344,000 after buying 39,257 additional shares last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Old Second Bancorp in the first quarter worth approximately $169,000. Tsfg LLC bought a new position in shares of Old Second Bancorp in the first quarter worth about $80,000. Finally, Assenagon Asset Management SA increased its stake in shares of Old Second Bancorp by 248.3% in the first quarter. Assenagon Asset Management SA now owns 213,576 shares of the financial services provider valued at $3,099,000 after purchasing an additional 152,256 shares last quarter. Institutional investors hold 50.83% of the company’s shares.
Performance of the shares of the former second Bancorp
Shares of OSBC opened at $13.95 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt ratio of 0.32. The company has a market capitalization of $620.23 million, a price-earnings ratio of 23.25 and a beta of 1.10. The stock has a 50-day moving average of $14.30 and a 200-day moving average of $14.23. Old Second Bancorp, Inc. has a 12-month low of $11.26 and a 12-month high of $15.68.
Former second Bancorp (NASDAQ: OSBC – Get a rating) last released its quarterly results on Wednesday, July 27. The financial services provider reported EPS of $0.27 for the quarter, missing analyst consensus estimates of $0.34 per ($0.07). Old Second Bancorp had a net margin of 12.26% and a return on equity of 11.41%. As a group, sell-side analysts expect Old Second Bancorp, Inc. to post earnings per share of 1.49 for the current year.
Former Second Bancorp dividend announcement
The company also recently declared a quarterly dividend, which was paid on Monday, August 8. Investors of record on Friday, July 29 received a dividend of $0.05 per share. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Thursday, July 28. Old Second Bancorp’s payout ratio is 33.33%.
Analyst upgrades and downgrades
A number of research firms have weighed in on OSBC recently. Raymond James raised its price target on Old Second Bancorp from $18.00 to $18.50 and gave the company a “Strong Buy” rating in a Thursday, July 7 report. TheStreet downgraded Old Second Bancorp from a ‘b’ rating to a ‘c+’ rating in a Thursday, July 28 report.
About Old Second Bancorp
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank which provides community banking services. It provides current, NOW, money market, savings, term deposit, individual retirement and checking accounts, as well as certificates of deposit accounts. The company also offers commercial loans; finance lease receivables; commercial real estate loans; building loans; residential real estate loans, such as residential first and second mortgages; home equity line of credit; consumer loans, including auto, home improvement and signature loans; installment loans and agricultural loans; residential mortgages; and verification of overdrafts.
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