Hugh Mclean Sells 25,000 Shares of Old Second Bancorp (NASDAQ:OSBC) Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) Director Hugh Mclean sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $25.63, for a total transaction of $640,750.00. Following the sale, the director owned 135,351 shares in the company, valued at $3,469,046.13. This represents a 15.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Old Second Bancorp Stock Down 1.1%

Shares of OSBC opened at $25.26 on Thursday. Old Second Bancorp, Inc. has a one year low of $16.65 and a one year high of $26.06. The company has a market cap of $1.29 billion, a P/E ratio of 14.52 and a beta of 0.70. 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 firm has a 50 day simple moving average of $24.72 and a two-hundred day simple moving average of $22.26.

Old Second Bancorp (NASDAQ:OSBC) last issued its 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 return on equity of 12.79% and a net margin of 20.22%. Research analysts forecast that Old Second Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

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

Institutional Trading of Old Second Bancorp

A number of hedge funds have recently made changes to their positions in OSBC. Harbour Investments Inc. acquired a new position in shares of Old Second Bancorp in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its position in Old Second Bancorp by 458.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,215 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in Old Second Bancorp during the 4th quarter worth approximately $27,000. Integrated Wealth Concepts LLC bought a new stake in Old Second Bancorp during the 2nd quarter worth approximately $44,000. Finally, Parkside Financial Bank & Trust acquired a new position in Old Second Bancorp in the 4th quarter valued at approximately $45,000. 67.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. DA Davidson boosted their target price on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Zacks Research lowered shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Raymond James Financial started coverage on shares of Old Second Bancorp in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. Finally, Piper Sandler restated an “overweight” rating and issued a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Old Second Bancorp presently has an average rating of “Moderate Buy” and a consensus target price 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.