Gamco Investors INC. ET AL Buys Shares of 32,721 Old Second Bancorp, Inc. $OSBC

Gamco Investors INC. ET AL purchased a new stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) during the third quarter, Holdings Channel reports. The fund purchased 32,721 shares of the financial services provider’s stock, valued at approximately $566,000.

Several other hedge funds have also recently bought and sold shares of OSBC. EverSource Wealth Advisors LLC raised its holdings in Old Second Bancorp by 458.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,215 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Old Second Bancorp in the third quarter worth $30,000. Mather Group LLC. bought a new position in Old Second Bancorp during the third quarter worth $67,000. Strs Ohio acquired a new position in Old Second Bancorp during the 1st quarter valued at $88,000. Finally, Tower Research Capital LLC TRC raised its stake in Old Second Bancorp by 446.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,306 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 5,153 shares during the last quarter. 67.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OSBC has been the subject of a number of research reports. DA Davidson raised their price objective on 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 reaffirmed a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.63.

Insider Activity

In other news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $20.98, for a total value of $41,960.00. Following the transaction, the executive vice president owned 24,874 shares of the company’s stock, valued at approximately $521,856.52. This trade represents a 7.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darin Patrick Campbell sold 35,000 shares of the 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 completion of the transaction, the insider owned 274,589 shares in the company, valued at $5,749,893.66. This represents a 11.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 37,091 shares of company stock worth $776,744. 3.80% of the stock is owned by company insiders.

Old Second Bancorp Stock Performance

Shares of NASDAQ:OSBC opened at $19.48 on Thursday. The business has a fifty day moving average of $20.20 and a 200-day moving average of $19.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91. Old Second Bancorp, Inc. has a twelve month low of $14.14 and a twelve month high of $22.00. The firm has a market cap of $1.03 billion, a PE ratio of 11.95 and a beta of 0.79.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Old Second Bancorp had a net margin of 20.00% and a return on equity of 12.79%. The company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $82.49 million. On average, equities research analysts predict that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Friday, January 30th were given 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 dividend payout ratio (DPR) is presently 17.18%.

Old Second Bancorp Company 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.