Assenagon Asset Management SA strengthens its position in Old Second Bancorp, Inc. (NASDAQ:OSBC)


Assenagon Asset Management SA increased its stake in the shares of Old Second Bancorp, Inc. (NASDAQ: OSBCGet a rating) by 248.3% in Q1, according to its most recent Form 13F filing with the SEC. The institutional investor owned 213,576 shares of the financial services provider after purchasing an additional 152,256 shares during the period. Assenagon Asset Management SA’s holdings in Old Second Bancorp were worth $3,099,000 at the end of the last quarter.

Other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. Allworth Financial LP increased its holdings in Old Second Bancorp by 365.7% in the first quarter. Allworth Financial LP now owns 8,914 shares of the financial services provider valued at $129,000 after acquiring an additional 7,000 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Old Second Bancorp during the fourth quarter, valued at approximately $145,000. Welch & Forbes LLC purchased a new stake in Old Second Bancorp during the fourth quarter worth approximately $160,000. Advisor Group Holdings Inc. increased its holdings in Old Second Bancorp by 543.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 12,654 shares of the financial services provider valued at $160,000 after acquiring an additional 10,687 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Old Second Bancorp by 70.9% during the fourth quarter. BNP Paribas Arbitrage SA now owns 12,838 shares of the financial services provider valued at $162,000 after acquiring an additional 5,328 shares during the period. Institutional investors hold 50.83% of the company’s shares.

OSBC has been the subject of a number of recent analyst reports. DA Davidson upgraded Old Second Bancorp from a “neutral” rating to a “buy” rating and set a price target of $22.00 on the stock in a Monday, March 21 report. Raymond James raised his price target on Old Second Bancorp from $18.00 to $18.50 and gave the stock a “Strong Buy” rating in a Thursday, July 7 report. To finish, StockNews.com began covering Old Second Bancorp in a report on Thursday, March 31. They issued a “holding” rating on the stock.

Shares of OSBC Action opened at $14.40 on Wednesday. Old Second Bancorp, Inc. has a 12-month low of $11.16 and a 12-month high of $15.68. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt ratio of 0.32. The stock’s 50-day moving average price is $14.31 and its 200-day moving average price is $14.10. The stock has a market capitalization of $640.22 million, a price/earnings ratio of 24.00 and a beta of 1.12.

Former second Bancorp (NASDAQ: OSBCGet a rating) last reported results on Wednesday, April 27. The financial services provider reported earnings per share (EPS) of $0.36 for the quarter, beating the consensus estimate of $0.24 by $0.12. Old Second Bancorp had a return on equity of 11.41% and a net margin of 12.26%. The company posted revenue of $54.73 million for the quarter, versus $53.10 million expected by analysts. As a group, research analysts predict Old Second Bancorp, Inc. will post 1.56 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 9. Shareholders of record on Friday, April 29 received a dividend of $0.05 per share. The ex-dividend date was Thursday, April 28. This represents an annualized dividend of $0.20 and a yield of 1.39%. Old Second Bancorp’s payout ratio is currently 33.33%.

Old Second Bancorp Company Profile (Get a rating)

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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Institutional ownership by quarter for Old Second Bancorp (NASDAQ:OSBC)



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