Assenagon Asset Management S.A. Acquires 32,769 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Assenagon Asset Management S.A. increased its holdings in shares of Old Second Bancorp, Inc. (NASDAQ:OSBCFree Report) by 20.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,265 shares of the financial services provider’s stock after purchasing an additional 32,769 shares during the period. Assenagon Asset Management S.A. owned approximately 0.42% of Old Second Bancorp worth $2,633,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of OSBC. Quantbot Technologies LP bought a new stake in Old Second Bancorp in the 3rd quarter valued at approximately $34,000. Criterion Capital Advisors LLC bought a new stake in Old Second Bancorp in the 4th quarter valued at approximately $46,000. Allspring Global Investments Holdings LLC lifted its stake in Old Second Bancorp by 86.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,152 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,464 shares in the last quarter. SG Americas Securities LLC bought a new stake in Old Second Bancorp in the 4th quarter valued at approximately $149,000. Finally, Quadrature Capital Ltd bought a new stake in Old Second Bancorp in the 4th quarter valued at approximately $172,000. Institutional investors own 67.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Raymond James raised Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a research report on Thursday, April 4th. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Old Second Bancorp in a research report on Friday, April 19th.

Read Our Latest Stock Report on OSBC

Old Second Bancorp Price Performance

Shares of NASDAQ:OSBC traded up $0.06 during trading on Tuesday, reaching $14.75. 143,437 shares of the company traded hands, compared to its average volume of 180,017. The company’s 50 day moving average is $13.88 and its two-hundred day moving average is $14.29. The firm has a market capitalization of $661.54 million, a PE ratio of 7.49 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.14. Old Second Bancorp, Inc. has a 52 week low of $11.71 and a 52 week high of $16.76.

Old Second Bancorp (NASDAQ:OSBCGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $83.83 million during the quarter, compared to analyst estimates of $69.50 million. Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.36%. As a group, sell-side analysts predict that Old Second Bancorp, Inc. will post 1.91 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Friday, April 26th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, April 25th. Old Second Bancorp’s payout ratio is 10.15%.

Insider Activity

In other news, Vice Chairman Gary S. Collins sold 21,002 shares of Old Second Bancorp stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $14.23, for a total transaction of $298,858.46. Following the sale, the insider now directly owns 46,624 shares of the company’s stock, valued at $663,459.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Vice Chairman Gary S. Collins sold 21,002 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $14.23, for a total transaction of $298,858.46. Following the completion of the transaction, the insider now directly owns 46,624 shares in the company, valued at $663,459.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Gary S. Collins sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $14.48, for a total value of $43,440.00. Following the transaction, the insider now owns 89,893 shares of the company’s stock, valued at $1,301,650.64. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

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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Institutional Ownership by Quarter for Old Second Bancorp (NASDAQ:OSBC)

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