Voya Investment Management LLC Reduces Holdings in Old Second Bancorp, Inc. $OSBC

Voya Investment Management LLC lowered its position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) by 7.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,965 shares of the financial services provider’s stock after selling 1,072 shares during the period. Voya Investment Management LLC’s holdings in Old Second Bancorp were worth $232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Alps Advisors Inc. increased its stake in shares of Old Second Bancorp by 3.9% in the first quarter. Alps Advisors Inc. now owns 21,698 shares of the financial services provider’s stock worth $361,000 after buying an additional 808 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Old Second Bancorp by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after buying an additional 1,067 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Old Second Bancorp by 3.1% in the first quarter. Principal Financial Group Inc. now owns 36,434 shares of the financial services provider’s stock worth $606,000 after buying an additional 1,109 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Old Second Bancorp by 6.4% in the fourth quarter. Squarepoint Ops LLC now owns 22,703 shares of the financial services provider’s stock worth $404,000 after buying an additional 1,363 shares during the last quarter. Finally, Quarry LP increased its stake in shares of Old Second Bancorp by 145.5% in the first quarter. Quarry LP now owns 5,802 shares of the financial services provider’s stock worth $97,000 after buying an additional 3,439 shares during the last quarter. Institutional investors own 67.76% of the company’s stock.

Analyst Ratings Changes

OSBC has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $24.50 price target (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. DA Davidson boosted their target price on shares of Old Second Bancorp from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $21.38.

Old Second Bancorp Stock Performance

Shares of OSBC opened at $17.30 on Tuesday. Old Second Bancorp, Inc. has a 1 year low of $14.14 and a 1 year high of $19.46. The company has a market cap of $910.85 million, a price-to-earnings ratio of 9.45 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a fifty day moving average of $17.83 and a 200-day moving average of $17.11.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $75.13 million during the quarter, compared to analyst estimates of $63.58 million. Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%. As a group, equities analysts anticipate that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Monday, August 4th. Investors of record on Friday, July 25th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a yield of 130.0%. Old Second Bancorp’s dividend payout ratio is presently 13.11%.

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.