Princeton Capital Management LLC Buys 1,000 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC)

Princeton Capital Management LLC lifted its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,770 shares of the financial services provider’s stock after buying an additional 1,000 shares during the quarter. Princeton Capital Management LLC’s holdings in Old Second Bancorp were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Old Second Bancorp in the second quarter worth about $33,000. Innealta Capital LLC bought a new stake in Old Second Bancorp during the 2nd quarter valued at approximately $49,000. Ameritas Investment Partners Inc. raised its stake in Old Second Bancorp by 19.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 853 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Old Second Bancorp during the 1st quarter valued at approximately $90,000. Finally, CWM LLC raised its stake in Old Second Bancorp by 36.3% during the 3rd 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 during the period. Institutional investors own 67.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OSBC shares. Piper Sandler lifted their target price on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. DA Davidson set a $18.00 target price on Old Second Bancorp in a research note on Thursday, October 17th. Finally, Raymond James downgraded Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th.

Old Second Bancorp Stock Performance

NASDAQ OSBC opened at $18.31 on Tuesday. The stock has a market capitalization of $821.20 million, a PE ratio of 9.90 and a beta of 1.06. The business has a 50 day simple moving average of $16.45 and a two-hundred day simple moving average of $15.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. Old Second Bancorp, Inc. has a 1-year low of $13.00 and a 1-year high of $18.86.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly 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 business had revenue of $71.16 million during the quarter, compared to analysts’ expectations of $70.95 million. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. On average, research analysts predict that Old Second Bancorp, Inc. will post 1.95 EPS for the current fiscal year.

Old Second Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 25th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, October 25th. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s dividend payout ratio (DPR) is currently 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.