Connor Clark & Lunn Investment Management Ltd. Purchases 22,329 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 122.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,601 shares of the financial services provider’s stock after purchasing an additional 22,329 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Old Second Bancorp worth $722,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Old Second Bancorp during the 4th quarter worth about $96,000. Quantbot Technologies LP grew its position in shares of Old Second Bancorp by 134.0% during the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after buying an additional 3,587 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Old Second Bancorp during the 3rd quarter worth about $101,000. Intech Investment Management LLC acquired a new position in shares of Old Second Bancorp during the 3rd quarter worth about $158,000. Finally, Paloma Partners Management Co acquired a new position in shares of Old Second Bancorp during the 3rd quarter worth about $204,000. 67.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Rocks Patti Temple purchased 5,625 shares of Old Second Bancorp stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $17.79 per share, with a total value of $100,068.75. Following the transaction, the director now directly owns 18,679 shares in the company, valued at $332,299.41. The trade was a 43.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Old Second Bancorp Price Performance

Shares of OSBC opened at $16.92 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50 day simple moving average of $18.09 and a 200 day simple moving average of $17.51. Old Second Bancorp, Inc. has a 52-week low of $13.20 and a 52-week high of $19.46. The firm has a market capitalization of $762.20 million, a PE ratio of 9.05 and a beta of 1.04.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) 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%. Sell-side analysts predict that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 31st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, January 31st. Old Second Bancorp’s dividend payout ratio (DPR) is currently 12.83%.

Analysts Set New Price Targets

OSBC has been the subject of several analyst reports. Raymond James upgraded Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods boosted their target price on Old Second Bancorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, Stephens boosted their target price on Old Second Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $20.90.

Old Second Bancorp 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.