Black Maple Capital Management LP Purchases New Holdings in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Black Maple Capital Management LP acquired a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,445 shares of the financial services provider’s stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Old Second Bancorp by 83.8% in the 1st quarter. JPMorgan Chase & Co. now owns 133,693 shares of the financial services provider’s stock valued at $1,940,000 after buying an additional 60,965 shares during the period. American Century Companies Inc. increased its stake in Old Second Bancorp by 30.3% in the first quarter. American Century Companies Inc. now owns 144,154 shares of the financial services provider’s stock valued at $2,092,000 after acquiring an additional 33,500 shares during the last quarter. MetLife Investment Management LLC raised its position in Old Second Bancorp by 54.2% during the first quarter. MetLife Investment Management LLC now owns 15,417 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 5,419 shares in the last quarter. BlackRock Inc. lifted its stake in Old Second Bancorp by 9.0% during the first quarter. BlackRock Inc. now owns 2,173,725 shares of the financial services provider’s stock worth $31,541,000 after purchasing an additional 179,424 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Old Second Bancorp by 7.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 952,947 shares of the financial services provider’s stock valued at $13,827,000 after purchasing an additional 62,934 shares in the last quarter. 65.85% of the stock is owned by institutional investors and hedge funds.

Old Second Bancorp Stock Performance

Shares of Old Second Bancorp stock opened at $14.24 on Tuesday. The stock has a market cap of $636.17 million, a price-to-earnings ratio of 7.01 and a beta of 1.13. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.17. Old Second Bancorp, Inc. has a twelve month low of $10.79 and a twelve month high of $17.80. The company’s fifty day moving average is $14.86 and its 200 day moving average is $13.92.

Old Second Bancorp (NASDAQ:OSBC – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Old Second Bancorp had a return on equity of 19.45% and a net margin of 30.18%. The firm had revenue of $71.80 million for the quarter, compared to analyst estimates of $74.03 million. Sell-side analysts forecast that Old Second Bancorp, Inc. will post 2.16 EPS for the current year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Friday, July 28th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, July 27th. This represents a $0.20 annualized dividend and a yield of 1.40%. Old Second Bancorp’s payout ratio is 9.85%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com initiated coverage on Old Second Bancorp in a research report on Thursday, August 17th. They set a “hold” rating for the company. Piper Sandler increased their price target on Old Second Bancorp from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, July 21st. Raymond James boosted their price objective on Old Second Bancorp from $17.00 to $19.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 21st. Finally, Stephens reiterated an “overweight” rating and issued a $18.00 target price on shares of Old Second Bancorp in a research report on Thursday, July 20th. One equities 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. Based on data from MarketBeat.com, Old Second Bancorp presently has an average rating of “Buy” and an average price target of $18.67.

Read Our Latest Stock Report on OSBC

Old Second Bancorp Profile

(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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