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

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $19.86 and traded as high as $21.47. Old Second Bancorp shares last traded at $21.08, with a volume of 395,630 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on OSBC shares. DA Davidson lifted their price target on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. Stephens started coverage on shares of Old Second Bancorp in a report on Friday, March 27th. They set an “overweight” rating and a $23.00 price target on the stock. Finally, Piper Sandler cut their price target on shares of Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Old Second Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Old Second Bancorp Price Performance

The business’s 50 day moving average is $20.37 and its two-hundred day moving average is $19.86. The firm has a market cap of $1.09 billion, a P/E ratio of 12.55 and a beta of 0.71. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). The firm had revenue of $93.77 million for the quarter, compared to the consensus estimate of $94.80 million. Old Second Bancorp had a return on equity of 12.92% and a net margin of 20.07%. As a group, analysts anticipate that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Friday, May 1st will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, May 1st. Old Second Bancorp’s dividend payout ratio (DPR) is 16.67%.

Insider Activity

In other news, insider Darin Patrick Campbell sold 35,000 shares of Old Second Bancorp stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total transaction of $732,900.00. Following the completion of the transaction, the insider directly owned 274,589 shares in the company, valued at $5,749,893.66. This trade represents a 11.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Old Second Bancorp

Large investors have recently added to or reduced their stakes in the business. Harbour Investments Inc. bought a new position in Old Second Bancorp in the 4th quarter valued at about $26,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Old Second Bancorp in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC raised its position in Old Second Bancorp by 458.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,215 shares during the period. State of Alaska Department of Revenue bought a new stake in Old Second Bancorp in the third quarter worth about $30,000. Finally, Parkside Financial Bank & Trust bought a new stake in Old Second Bancorp in the fourth quarter worth about $45,000. 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.