Yes. So is the (IMHO) best workaround of using lddtree (pax-utils) instead. Available on pretty much all distros, though probably not installed by default.
edit:
even simpler,
for i in $(objdump -p /path/to/bin | grep NEEDED | awk '{print $2}'); do ldconfig -p | grep $i; done
(… it also recurses down on the dependencies, presumably you can extend your shell script to do that too but at some point why not just use the existing tools?)