Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives $25.40 Average Price Target from Analysts

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $25.40.

Several research firms recently weighed in on OSBC. Zacks Research downgraded shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday. Raymond James Financial began coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. DA Davidson boosted their price objective on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research note on Wednesday, August 26th.

Insider Activity

In other news, CEO James Eccher sold 19,313 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $25.61, for a total value of $494,605.93. Following the completion of the transaction, the chief executive officer owned 303,399 shares of the company’s stock, valued at approximately $7,770,048.39. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Old Second Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Old Second Bancorp in the second quarter worth $100,245,000. Davis Asset Management L.P. acquired a new stake in shares of Old Second Bancorp in the second quarter valued at $41,976,000. California State Teachers Retirement System raised its stake in shares of Old Second Bancorp by 2,453.6% in the second quarter. California State Teachers Retirement System now owns 1,194,987 shares of the financial services provider’s stock valued at $27,867,000 after acquiring an additional 1,148,191 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Old Second Bancorp in the second quarter valued at $20,350,000. Finally, Boston Partners purchased a new position in Old Second Bancorp in the fourth quarter valued at $15,994,000. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Old Second Bancorp Trading Up 1.8%

NASDAQ OSBC opened at $25.53 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $1.30 billion, a P/E ratio of 14.67 and a beta of 0.70. The firm’s 50-day moving average is $24.49 and its two-hundred day moving average is $22.08. Old Second Bancorp has a 12 month low of $16.65 and a 12 month high of $26.06.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share 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, sell-side analysts anticipate that Old Second Bancorp will post 2.2 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Friday, July 31st. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. Old Second Bancorp’s dividend payout ratio is 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.