MSH Capital Advisors LLC Acquires Shares of 84,826 Old Second Bancorp, Inc. $OSBC

MSH Capital Advisors LLC acquired a new stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) during the second quarter, HoldingsChannel reports. The fund acquired 84,826 shares of the financial services provider’s stock, valued at approximately $1,978,000.

Several other large investors have also recently added to or reduced their stakes in OSBC. Los Angeles Capital Management LLC lifted its holdings in shares of Old Second Bancorp by 1.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock worth $519,000 after buying an additional 493 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Old Second Bancorp by 32.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 622 shares in the last quarter. Russell Investments Group Ltd. increased its position in Old Second Bancorp by 0.8% during the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock worth $2,186,000 after acquiring an additional 908 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Old Second Bancorp by 4.3% during 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 acquiring an additional 1,067 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,215 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

Wall Street Analysts Forecast Growth

OSBC has been the subject of a number of recent research reports. Zacks Research raised shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. DA Davidson raised their target price on shares of Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Raymond James Financial initiated coverage on Old Second Bancorp in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $25.40.

Insider Buying and Selling

In other news, CEO James Eccher sold 55,687 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $25.46, for a total value of $1,417,791.02. Following the completion of the transaction, the chief executive officer owned 322,712 shares of the company’s stock, valued at approximately $8,216,247.52. This represents a 14.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.60% of the company’s stock.

Old Second Bancorp Stock Performance

Shares of Old Second Bancorp stock opened at $25.04 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.27 billion, a PE ratio of 14.39 and a beta of 0.70. The company has a 50 day moving average of $23.88 and a 200-day moving average of $21.75. Old Second Bancorp, Inc. has a 1-year low of $16.65 and a 1-year high of $26.06.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. As a group, equities research analysts forecast that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 31st were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, July 31st. Old Second Bancorp’s payout ratio is currently 16.09%.

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.