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Hunter Perkins Capital Management LLC recently invested heavily in Old Second Bancorp, Inc. by purchasing more than 31,000 shares of the financial service provider’s stock. The value of this stake amounts to almost $436,000 and it constitutes approximately 0.07% of the company’s overall worth. This latest move by Hunter Perkins Capital Management LLC is a reflection of their belief that Old Second Bancorp has potential for further growth and success.
Old Second Bancorp recently released its quarterly earnings report and showed promising figures despite its slightly lower-than-expected EPS for the quarter. Analysts predict that it will post around 2.15 earnings per share for this fiscal year. Notably, Old Second Bancorp has an impressive net margin of 28.18% and a return on equity figure of 17.58%, which shows its ability to generate profits while giving back to shareholders.
As a bank holding company, Old Second Bancorp specializes in providing community banking services through its subsidiary, Old Second National Bank. It offers a variety of banking products such as demand accounts, money market accounts, certificates of deposit accounts (CDs), and individual retirement account (IRA) options. Additionally, it provides an array of loans for commercial customers like real estate loans, motor vehicle loans, home improvement loans as well as installment and agricultural loans.
Old Second Bancorp takes pride in being consumer-centric and providing unique solutions tailored to meet clients’ needs in various segments like retail banking as well as corporate banking solutions including cash management solutions among others.
In conclusion, Hunter Perkins Capital Management LLC seems convinced that Old Second Bancorp will continue to succeed over time amid the continued progress towards the organization’s long-term growth objectives through balancing operational efficiencies with prudent risk-taking opportunities aimed at delivering value-enhancing returns to their investors.
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Institutional Investors Show Increased Interest in Old Second Bancorp Stock as Share Prices Rise
Old Second Bancorp, Inc, the bank holding company for Old Second National Bank, has recently seen a number of changes in the holdings of institutional investors. Dorsey Wright & Associates purchased a new position in shares of OSBC worth approximately $31,000 in the fourth quarter. Quadrant Capital Group LLC raised its stake by 382.9% in the third quarter and Zurcher Kantonalbank Zurich Cantonalbank purchased a new position worth about $48,000 in the second quarter. Tower Research Capital LLC TRC also raised its stake by 281.1% in the third quarter, taking ownership of 8,033 shares currently worth $105,000 after purchasing an additional 5,925 shares during the last quarter. Arizona State Retirement System bought shares worth $161,000 in OSBC last quarter. Notably, hedge funds and other institutional investors currently own more than half of OSBC stock at 65.84%.
The current market cap for Old Second Bancorp is $586.07 million with a P/E ratio of 7.54 and a beta of 1.09. Shares of OSBC are currently trading at $13.12 per unit after opening on Friday.
Old Second Bancorp offers 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.
On May 8th 2017, Old Second Bancorp disclosed their quarterly dividend which was paid on that day and issued to shareholders who had been registered since April 28th at $0.05 per share with represents a yield of 1.52%. Their payout ratio as it stands is currently 11.49%.
Numerous reports have been conducted surrounding the stock of OSBC with Stephens recently rating it at ‘overweight’ and setting a price target of $18.00 on April 21st 2017, since then StockNews.com has upgraded Old Second Bancorp’s stock from ‘sell’ to ‘hold’ in their report as of May 19th 2017. Raymond James have also reduced their price target on Old Second Bancorp’s shares from $20.00 to $18.00 and set them a ‘strong-buy’ rating back on April 6th 2017. OSBC currently holds an average rating of “Buy” according to data collated by Bloomberg.com with an average consensus target price for the stock at $19.00 per share.
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