Pinnacle Financial Group LLC IL Makes New $629,000 Investment in Old Second Bancorp, Inc. $OSBC

Pinnacle Financial Group LLC IL bought a new stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,414 shares of the financial services provider’s stock, valued at approximately $629,000. Pinnacle Financial Group LLC IL owned approximately 0.07% of Old Second Bancorp as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Rafferty Asset Management LLC raised its position in Old Second Bancorp by 12.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 36,771 shares of the financial services provider’s stock valued at $636,000 after buying an additional 3,995 shares during the last quarter. American Century Companies Inc. boosted its holdings in Old Second Bancorp by 13.1% during the 3rd quarter. American Century Companies Inc. now owns 1,387,891 shares of the financial services provider’s stock worth $23,990,000 after acquiring an additional 160,429 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Old Second Bancorp by 218.3% in the 3rd quarter. Quantbot Technologies LP now owns 34,512 shares of the financial services provider’s stock worth $597,000 after acquiring an additional 23,668 shares in the last quarter. R Squared Ltd raised its holdings in shares of Old Second Bancorp by 27.2% in the third quarter. R Squared Ltd now owns 30,899 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 6,598 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Old Second Bancorp by 8.8% during the third quarter. Intech Investment Management LLC now owns 20,047 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 1,620 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. DA Davidson upped their price objective on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.63.

Insider Activity

In other news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $20.98, for a total value of $41,960.00. Following the sale, the executive vice president owned 24,874 shares of the company’s stock, valued at $521,856.52. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Darin Patrick Campbell sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total transaction of $732,900.00. Following the sale, the insider owned 274,589 shares in the company, valued at $5,749,893.66. The trade was a 11.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 37,091 shares of company stock worth $776,744. Insiders own 3.80% of the company’s stock.

Old Second Bancorp Trading Down 2.9%

Shares of OSBC stock opened at $19.63 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.03 billion, a P/E ratio of 12.04 and a beta of 0.82. The company has a 50 day moving average of $20.23 and a 200-day moving average of $19.00. Old Second Bancorp, Inc. has a 12-month low of $14.14 and a 12-month high of $22.00.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $95.21 million during the quarter, compared to the consensus estimate of $82.49 million. Old Second Bancorp had a return on equity of 13.36% and a net margin of 20.00%. Sell-side analysts anticipate that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Friday, January 30th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, January 30th. Old Second Bancorp’s payout ratio is currently 17.18%.

Old Second Bancorp Profile

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.