Assenagon Asset Management S.A. Purchases 285,314 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Assenagon Asset Management S.A. increased its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) by 180.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 443,527 shares of the financial services provider's stock after purchasing an additional 285,314 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.99% of Old Second Bancorp worth $6,915,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OSBC. Ameritas Investment Partners Inc. grew its stake in shares of Old Second Bancorp by 19.8% during the first quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 853 shares during the last quarter. Lakewood Asset Management LLC boosted its position in Old Second Bancorp by 8.8% in the 3rd quarter. Lakewood Asset Management LLC now owns 19,951 shares of the financial services provider's stock valued at $311,000 after buying an additional 1,612 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 1,807 shares during the period. Hunter Perkins Capital Management LLC increased its stake in shares of Old Second Bancorp by 3.7% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 52,955 shares of the financial services provider's stock valued at $826,000 after buying an additional 1,870 shares during the period. Finally, Rhumbline Advisers raised 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 acquiring an additional 1,923 shares during the last quarter. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Trading Down 0.5 %

Shares of Old Second Bancorp stock traded down $0.08 during trading on Tuesday, hitting $16.69. 148,775 shares of the company were exchanged, compared to its average volume of 226,134. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $748.48 million, a P/E ratio of 8.52 and a beta of 1.06. The firm's fifty day moving average price is $16.18 and its 200 day moving average price is $15.29. Old Second Bancorp, Inc. has a 1-year low of $13.00 and a 1-year high of $17.46.

Old Second Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 25th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, October 25th. This is an increase from Old Second Bancorp's previous quarterly dividend of $0.05. Old Second Bancorp's dividend payout ratio is presently 12.18%.

Analysts Set New Price Targets

A number of research analysts have issued reports on OSBC shares. Raymond James downgraded shares of Old Second Bancorp from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $19.00 to $18.00 in a research report on Tuesday, September 17th. DA Davidson set a $18.00 price objective on shares of Old Second Bancorp in a report on Thursday, October 17th. Finally, Piper Sandler raised their price objective on shares of Old Second Bancorp from $22.50 to $23.00 and gave the company an "overweight" rating in a research note on Friday, October 18th.

Old Second Bancorp Company Profile

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.