Old Second Bancorp (NASDAQ:OSBC) CEO Sells $1,417,791.02 in Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) CEO James Eccher sold 55,687 shares of Old Second Bancorp stock in a transaction on 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 transaction, the chief executive officer owned 322,712 shares of the company’s stock, valued at $8,216,247.52. The trade was a 14.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

James Eccher also recently made the following trade(s):

• On Wednesday, August 12th, James Eccher sold 19,313 shares of Old Second Bancorp stock. The stock was sold at an average price of $25.61, for a total value of $494,605.93.

Old Second Bancorp Trading Up 0.4%

NASDAQ OSBC opened at $25.91 on Friday. Old Second Bancorp, Inc. has a 12 month low of $16.65 and a 12 month high of $26.04. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average price is $23.66 and its 200-day moving average price is $21.62. The stock has a market cap of $1.32 billion, a P/E ratio of 14.89 and a beta of 0.70.

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

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 31st were paid a dividend of $0.07 per share. 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 dividend payout ratio (DPR) is currently 16.09%.

Institutional Trading of Old Second Bancorp

A number of institutional investors have recently made changes to their positions in OSBC. BlackRock Inc. bought a new stake in shares of Old Second Bancorp in the second quarter worth approximately $100,245,000. Davis Asset Management L.P. bought a new position in Old Second Bancorp during the second quarter valued at approximately $41,976,000. The Manufacturers Life Insurance Company bought a new position in Old Second Bancorp during the second quarter valued at approximately $20,350,000. Boston Partners purchased a new stake in Old Second Bancorp in the fourth quarter worth approximately $15,994,000. Finally, Wellington Management Group LLP boosted its holdings in Old Second Bancorp by 521.2% in the fourth quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock worth $18,909,000 after purchasing an additional 813,600 shares during the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Wall Street Analyst Weigh In

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

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.