FJ Capital Management LLC Reduces Stock Position in Old Second Bancorp, Inc. $OSBC

FJ Capital Management LLC decreased its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,829,665 shares of the financial services provider’s stock after selling 90,269 shares during the period. Old Second Bancorp makes up approximately 4.0% of FJ Capital Management LLC’s holdings, making the stock its 7th biggest position. FJ Capital Management LLC owned 3.47% of Old Second Bancorp worth $35,678,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Kennedy Capital Management LLC boosted its stake in Old Second Bancorp by 15.9% in the 4th quarter. Kennedy Capital Management LLC now owns 1,267,042 shares of the financial services provider’s stock worth $24,707,000 after purchasing an additional 173,724 shares in the last quarter. Barclays PLC boosted its stake in Old Second Bancorp by 22.8% in the 4th quarter. Barclays PLC now owns 143,188 shares of the financial services provider’s stock worth $2,792,000 after purchasing an additional 26,609 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in Old Second Bancorp in the 4th quarter worth about $45,000. Rafferty Asset Management LLC boosted its stake in Old Second Bancorp by 17.1% in the 4th quarter. Rafferty Asset Management LLC now owns 43,049 shares of the financial services provider’s stock worth $839,000 after purchasing an additional 6,278 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in Old Second Bancorp by 18.7% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 14,232 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 2,244 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on OSBC shares. Piper Sandler dropped their price target on shares of Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating on the stock 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 began coverage on shares of Old Second Bancorp in a research note on Friday, March 27th. They set an “overweight” rating and a $23.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Old Second Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Old Second Bancorp Price Performance

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

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

Old Second Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders 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 is presently 16.67%.

About Old Second Bancorp

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.