Truist Financial Corp Takes New Position in Old Second Bancorp, Inc. (NASDAQ:OSBC)
Truist Financial Corp bought a new stock position in Old Second Bancorp, Inc. (NASDAQ: OSBC – Get a rating) during Q1, according to the company in its latest SEC filing. The fund bought 25,710 shares of the financial services provider, valued at around $373,000.
A number of other large investors also changed their stake in the company. Allworth Financial LP increased its position in Old Second Bancorp by 365.7% in the first quarter. Allworth Financial LP now owns 8,914 shares of the financial services provider worth $129,000 after acquiring an additional 7,000 shares last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Old Second Bancorp during Q4 for a value of $145,000. Advisor Group Holdings Inc. increased its holdings of Old Second Bancorp shares by 543.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 12,654 shares of the financial services provider valued at $160,000 after buying an additional 10,687 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in the shares of Old Second Bancorp by 70.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 12,838 shares of the financial services provider valued at $162,000 after purchasing an additional 5,328 shares during the period. Finally, First Trust Advisors LP increased its holdings in Old Second Bancorp by 7.3% during the fourth quarter. First Trust Advisors LP now owns 13,322 shares of the financial services provider worth $168,000 after buying 909 more shares last quarter. 50.83% of the shares are held by hedge funds and other institutional investors.
Performance of the shares of the former second Bancorp
Shares of OSBC opened at $14.86 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt ratio of 0.32. The stock has a market capitalization of $660.69 million, a P/E ratio of 24.77 and a beta of 1.12. The company has a 50-day moving average of $14.38 and a two-hundred-day moving average of $14.21. Old Second Bancorp, Inc. has a 12-month low of $11.16 and a 12-month high of $15.68.
Former second Bancorp (NASDAQ: OSBC – Get a rating) last released its quarterly earnings data on Wednesday, April 27. The financial services provider reported earnings per share of $0.36 for the quarter, beating analysts’ consensus estimate of $0.24 by $0.12. Old Second Bancorp had a net margin of 12.26% and a return on equity of 11.41%. The company posted revenue of $54.73 million in the quarter, compared to $53.10 million expected by analysts. As a group, research analysts predict Old Second Bancorp, Inc. will post EPS of 1.56 for the current fiscal year.
Old Second Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 8. Shareholders of record on Friday, July 29 will receive a dividend of $0.05. The ex-date of this dividend is Thursday, July 28. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 1.35%. Old Second Bancorp’s dividend payout ratio (DPR) is 33.33%.
Analyst upgrades and downgrades
A number of equity research analysts have recently released reports on the stock. StockNews.com launched a hedge on shares of Old Second Bancorp in a research report on Thursday, March 31. They set a “holding” rating for the company. Raymond James raised his target price on Old Second Bancorp from $18.00 to $18.50 and gave the stock a “Strong Buy” rating in a Thursday, July 7 research report.
About Old Second Bancorp
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank which provides community banking services. It provides current, NOW, money market, savings, term deposit, individual retirement and checking accounts, as well as certificates of deposit accounts. The company also offers commercial loans; finance lease receivables; commercial real estate loans; building loans; residential real estate loans, such as residential first and second mortgages; home equity line of credit; consumer loans, including auto, home improvement and signature loans; installment loans and agricultural loans; residential mortgages; and verification of overdrafts.
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