Old Second Bancorp (NASDAQ:OSBC) Sets New 52-Week High – Time to Buy?

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $23.62 and last traded at $23.5170, with a volume of 37585 shares traded. The stock had previously closed at $23.32.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler raised their target price on shares of Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Finally, Stephens started coverage on Old Second Bancorp in a report on Friday, March 27th. They issued an “overweight” rating and a $23.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Old Second Bancorp Stock Down 1.7%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $1.19 billion, a PE ratio of 13.83 and a beta of 0.70. The firm’s 50-day simple moving average is $21.52 and its 200 day simple moving average is $20.72.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.67%. The company had revenue of $93.77 million during the quarter, compared to analysts’ expectations of $94.80 million. As a group, equities research analysts forecast that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. Old Second Bancorp’s dividend payout ratio (DPR) is 16.67%.

Institutional Investors Weigh In On Old Second Bancorp

Institutional investors have recently modified their holdings of the company. Boston Partners purchased a new position in shares of Old Second Bancorp in the fourth quarter valued at $15,994,000. Wellington Management Group LLP boosted its position in shares of Old Second Bancorp by 521.2% in the 4th quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock worth $18,909,000 after buying an additional 813,600 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Old Second Bancorp by 74.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after acquiring an additional 630,265 shares during the last quarter. Vanguard Group Inc. grew its stake in Old Second Bancorp by 20.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock valued at $56,522,000 after acquiring an additional 553,169 shares during the last quarter. Finally, River Street Advisors LLC increased its holdings in Old Second Bancorp by 104.0% during the 1st quarter. River Street Advisors LLC now owns 746,660 shares of the financial services provider’s stock valued at $15,053,000 after acquiring an additional 380,589 shares in the last quarter. Hedge funds and other 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.