Old Second Bancorp (NASDAQ:OSBC) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.55 and traded as high as $22.25. Old Second Bancorp shares last traded at $22.08, with a volume of 335,595 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Stephens initiated coverage on Old Second Bancorp in a report on Friday, March 27th. They set an “overweight” rating and a $23.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Finally, Piper Sandler reduced their target price on Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Old Second Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Old Second Bancorp Stock Performance

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 13.62 and a beta of 0.71. The stock’s 50-day simple moving average is $21.32 and its 200 day simple moving average is $20.59.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.03). The firm had revenue of $93.77 million for the quarter, compared to analyst estimates of $94.80 million. Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%. Analysts expect that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were given a $0.07 dividend. The ex-dividend date was Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 1.2%. Old Second Bancorp’s payout ratio is presently 16.67%.

Institutional Trading of Old Second Bancorp

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Old Second Bancorp by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider’s stock valued at $63,929,000 after buying an additional 8,395 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Old Second Bancorp by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider’s stock worth $48,159,000 after acquiring an additional 127,988 shares during the last quarter. FJ Capital Management LLC grew its holdings in Old Second Bancorp by 4.5% during the 3rd quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock worth $33,186,000 after acquiring an additional 82,601 shares during the last quarter. Davis Asset Management L.P. increased its position in Old Second Bancorp by 16.4% in the 4th quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider’s stock valued at $34,038,000 after acquiring an additional 245,523 shares in the last quarter. Finally, State Street Corp increased its position in Old Second Bancorp by 12.6% in the 4th quarter. State Street Corp now owns 1,539,419 shares of the financial services provider’s stock valued at $30,019,000 after acquiring an additional 171,941 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

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.