Pinnacle Financial Group LLC IL Takes $629,000 Position in Old Second Bancorp, Inc. $OSBC

Pinnacle Financial Group LLC IL acquired a new stake in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 36,414 shares of the financial services provider’s stock, valued at approximately $629,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock valued at $430,000 after buying an additional 1,067 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock worth $24,599,000 after buying an additional 630,265 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Old Second Bancorp by 38.7% in the first quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider’s stock valued at $2,794,000 after acquiring an additional 46,890 shares during the period. Jane Street Group LLC purchased a new position in Old Second Bancorp during the first quarter valued at approximately $1,378,000. Finally, Strs Ohio bought a new stake in Old Second Bancorp during the 1st quarter worth approximately $88,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Wall Street Analyst Weigh In

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

Old Second Bancorp Trading Down 2.9%

Shares of Old Second Bancorp stock opened at $19.63 on Friday. Old Second Bancorp, Inc. has a 1 year low of $14.14 and a 1 year high of $22.00. The firm has a market cap of $1.03 billion, a PE ratio of 12.04 and a beta of 0.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89. The company has a 50 day simple moving average of $20.23 and a two-hundred day simple moving average of $19.00.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.58 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 analysts’ expectations of $82.49 million. Old Second Bancorp had a net margin of 20.00% and a return on equity of 13.36%. Analysts expect that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The company also recently announced 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 of this dividend was Friday, January 30th. Old Second Bancorp’s dividend payout ratio is currently 17.18%.

Insiders Place Their Bets

In other news, insider Darin Patrick Campbell sold 35,000 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total transaction of $732,900.00. Following the transaction, the insider directly owned 274,589 shares in the company, valued at approximately $5,749,893.66. This represents a 11.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 directly owned 24,874 shares in the company, valued at approximately $521,856.52. This represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 37,091 shares of company stock worth $776,744. 3.80% of the stock is owned by insiders.

About Old Second Bancorp

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.