Raymond James Financial Inc. acquired a new stake in Old Second Bancorp, Inc. (NASDAQ:OSBC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 25,800 shares of the financial services provider's stock, valued at approximately $459,000. Raymond James Financial Inc. owned 0.06% of Old Second Bancorp as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of OSBC. Victory Capital Management Inc. grew its holdings in shares of Old Second Bancorp by 29.4% in the fourth quarter. Victory Capital Management Inc. now owns 26,632 shares of the financial services provider's stock valued at $474,000 after acquiring an additional 6,049 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Old Second Bancorp by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,480 shares of the financial services provider's stock worth $6,516,000 after buying an additional 8,134 shares during the last quarter. Hudson Edge Investment Partners Inc. grew its position in Old Second Bancorp by 17.2% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 42,633 shares of the financial services provider's stock valued at $758,000 after buying an additional 6,271 shares during the period. Ieq Capital LLC purchased a new stake in Old Second Bancorp during the fourth quarter worth about $230,000. Finally, New York State Common Retirement Fund boosted its stake in Old Second Bancorp by 15.1% in the fourth quarter. New York State Common Retirement Fund now owns 11,466 shares of the financial services provider's stock valued at $204,000 after acquiring an additional 1,500 shares during the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
OSBC has been the topic of several research analyst reports. Stephens upped their price objective on Old Second Bancorp from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Raymond James upgraded Old Second Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on Old Second Bancorp from $22.00 to $24.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $20.90.
Check Out Our Latest Stock Analysis on OSBC
Old Second Bancorp Stock Performance
Shares of NASDAQ OSBC traded down $0.08 during mid-day trading on Friday, hitting $14.45. The company had a trading volume of 212,709 shares, compared to its average volume of 252,235. The stock's 50-day moving average price is $17.18 and its 200-day moving average price is $17.44. The company has a market capitalization of $650.93 million, a price-to-earnings ratio of 7.73 and a beta of 0.84. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp, Inc. has a 1 year low of $13.20 and a 1 year high of $19.46.
Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. On average, sell-side analysts forecast that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.
Old Second Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 31st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Friday, January 31st. Old Second Bancorp's dividend payout ratio is currently 12.83%.
About Old Second Bancorp
(
Free Report)
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.
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