Old Second Bancorp (NASDAQ:OSBC) Shares Gap Down - What's Next?

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $17.13, but opened at $16.72. Old Second Bancorp shares last traded at $16.90, with a volume of 14,012 shares changing hands.

Wall Street Analysts Forecast Growth

OSBC has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an "overweight" rating in a research report on Friday. Raymond James downgraded shares of Old Second Bancorp from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $19.00 to $18.00 in a report on Tuesday, September 17th. Finally, DA Davidson set a $18.00 target price on Old Second Bancorp in a research report on Thursday.

Old Second Bancorp Price Performance

The firm has a market capitalization of $733.68 million, a P/E ratio of 8.30 and a beta of 1.06. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $16.10 and a 200-day moving average price of $15.18.

Old Second Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 25th will be paid a $0.06 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.24 annualized dividend and a dividend yield of 1.47%. This is an increase from Old Second Bancorp's previous quarterly dividend of $0.05. Old Second Bancorp's dividend payout ratio is currently 12.18%.

Hedge Funds Weigh In On Old Second Bancorp

Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its stake in Old Second Bancorp by 19.8% in the first quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider's stock worth $72,000 after purchasing an additional 853 shares during the last quarter. Lakewood Asset Management LLC boosted its holdings in Old Second Bancorp by 8.8% during the 3rd quarter. Lakewood Asset Management LLC now owns 19,951 shares of the financial services provider's stock valued at $311,000 after acquiring an additional 1,612 shares during the period. Price T Rowe Associates Inc. MD grew its position in Old Second Bancorp by 11.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,632 shares of the financial services provider's stock valued at $245,000 after acquiring an additional 1,807 shares during the last quarter. Hunter Perkins Capital Management LLC increased its stake in Old Second Bancorp by 3.7% in the third quarter. Hunter Perkins Capital Management LLC now owns 52,955 shares of the financial services provider's stock worth $826,000 after purchasing an additional 1,870 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Old Second Bancorp by 2.7% during the second quarter. Rhumbline Advisers now owns 73,155 shares of the financial services provider's stock worth $1,083,000 after purchasing an additional 1,923 shares during the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

About Old Second Bancorp

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.