Old Second Bancorp, Inc. $OSBC Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 50.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,090 shares of the financial services provider’s stock after acquiring an additional 25,308 shares during the quarter. Principal Financial Group Inc. owned 0.15% of Old Second Bancorp worth $1,514,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its position in shares of Old Second Bancorp by 1.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 493 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Old Second Bancorp by 12.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 540 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Old Second Bancorp by 32.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 622 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Old Second Bancorp by 0.8% during the 4th quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock worth $2,186,000 after buying an additional 908 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after buying an additional 1,067 shares in the last quarter. 67.76% of the stock is owned by institutional investors and hedge funds.

Old Second Bancorp Price Performance

Shares of OSBC opened at $25.34 on Friday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 14.56 and a beta of 0.70. The firm’s fifty day simple moving average is $22.69 and its 200-day simple moving average is $21.23. Old Second Bancorp, Inc. has a twelve month low of $16.42 and a twelve month high of $25.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last posted its 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 return on equity of 12.85% and a net margin of 20.22%.The firm had revenue of $96.59 million for the quarter, compared to analyst estimates of $94.88 million. Equities analysts forecast that Old Second Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 31st will be issued a $0.07 dividend. The ex-dividend date is 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%.

Analysts Set New Price Targets

Several research firms have commented on OSBC. Piper Sandler restated 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. Raymond James Financial assumed coverage on Old Second Bancorp in a report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. Finally, DA Davidson increased their price target 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. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Old Second Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $25.40.

Old Second Bancorp Company 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.