Old Second Bancorp (NASDAQ:OSBC) Hits New 1-Year High – What’s Next?

Old Second Bancorp, Inc. (NASDAQ:OSBC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $26.06 and last traded at $25.8860, with a volume of 33582 shares changing hands. The stock had previously closed at $25.91.

Analysts Set New Price Targets

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

Old Second Bancorp Trading Up 0.2%

The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 14.92 and a beta of 0.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50 day moving average price of $23.66 and a two-hundred day moving average price of $21.63.

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

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 31st were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, July 31st. Old Second Bancorp’s dividend payout ratio (DPR) is presently 16.09%.

Insider Activity

In other news, CEO James Eccher sold 19,313 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $25.61, for a total transaction of $494,605.93. Following the completion of the sale, the chief executive officer owned 303,399 shares of the company’s stock, valued at $7,770,048.39. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Old Second Bancorp by 4.3% in 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 purchasing an additional 1,067 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Old Second Bancorp by 74.3% during 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 raised 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 buying an additional 46,890 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Old Second Bancorp in the first quarter worth about $1,378,000. Finally, Strs Ohio acquired a new stake in Old Second Bancorp in the 1st quarter valued at about $88,000. Institutional investors and hedge funds own 67.76% of the company’s stock.

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.