Old Second Bancorp, Inc. (NASDAQ:OSBC) Holdings Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 16.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,101,634 shares of the financial services provider’s stock after purchasing an additional 153,187 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.46% of Old Second Bancorp worth $17,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP lifted its stake in Old Second Bancorp by 134.0% in the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 3,587 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Old Second Bancorp during the third quarter worth approximately $101,000. CWM LLC grew its position in Old Second Bancorp by 36.3% during the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 2,123 shares in the last quarter. Intech Investment Management LLC acquired a new position in Old Second Bancorp in the 3rd quarter valued at approximately $158,000. Finally, Paloma Partners Management Co purchased a new stake in Old Second Bancorp in the 3rd quarter worth approximately $204,000. Institutional investors and hedge funds own 67.76% of the company’s stock.

Insider Buying and Selling at Old Second Bancorp

In other Old Second Bancorp news, Director Rocks Patti Temple purchased 5,625 shares of the stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $17.79 per share, with a total value of $100,068.75. Following the completion of the transaction, the director now owns 18,679 shares in the company, valued at $332,299.41. This trade represents a 43.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OSBC. Raymond James upgraded shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. DA Davidson set a $18.00 target price on Old Second Bancorp in a research note on Thursday, October 17th. Finally, Piper Sandler raised their price target on Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th.

Old Second Bancorp Stock Up 0.9 %

OSBC stock opened at $17.79 on Friday. The firm has a market cap of $797.93 million, a PE ratio of 9.62 and a beta of 1.08. Old Second Bancorp, Inc. has a 1 year low of $13.00 and a 1 year high of $19.37. The company has a fifty day simple moving average of $18.10 and a 200 day simple moving average of $16.70. 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 (NASDAQ:OSBC) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $71.16 million for the quarter, compared to analyst estimates of $70.95 million. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. Sell-side analysts anticipate that Old Second Bancorp, Inc. will post 1.95 EPS for the current fiscal year.

Old Second Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 25th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a yield of 1.35%. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s dividend payout ratio is presently 12.97%.

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.