Ieq Capital LLC Invests $1.17 Million in Old Second Bancorp, Inc. $OSBC

Ieq Capital LLC acquired a new stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 50,309 shares of the financial services provider’s stock, valued at approximately $1,173,000.

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

Old Second Bancorp Price Performance

OSBC opened at $25.25 on Thursday. The firm has a market cap of $1.28 billion, a PE ratio of 14.51 and a beta of 0.70. The stock has a 50-day moving average price of $24.19 and a 200-day moving average price of $21.92. Old Second Bancorp, Inc. has a 1 year low of $16.65 and a 1 year high of $26.06. 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 (NASDAQ:OSBC) last announced its quarterly earnings data 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%. Sell-side analysts predict 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 declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 31st were issued a dividend of $0.07 per share. The ex-dividend date was Friday, July 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.1%. Old Second Bancorp’s dividend payout ratio is presently 16.09%.

Insider Activity at Old Second Bancorp

In related news, CEO James Eccher sold 19,313 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were 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. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OSBC. Zacks Research raised shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Raymond James Financial began coverage on shares of Old Second Bancorp in a report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price target on the stock. Piper Sandler restated an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. DA Davidson upped their price objective on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $25.40.

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.