Old Second Bancorp (NASDAQ:OSBC) Issues Earnings Results

Old Second Bancorp (NASDAQ:OSBC) released its quarterly earnings data on Wednesday. The financial services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03), FiscalAI reports. The company had revenue of $97.12 million during the quarter, compared to analyst estimates of $98.22 million. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%.

Old Second Bancorp Stock Performance

Shares of OSBC stock traded down $0.23 on Wednesday, hitting $24.87. The company’s stock had a trading volume of 432,790 shares, compared to its average volume of 421,044. Old Second Bancorp has a fifty-two week low of $17.11 and a fifty-two week high of $26.06. The company has a market capitalization of $1.27 billion, a PE ratio of 14.29 and a beta of 0.77. The stock’s 50 day moving average is $25.14 and its 200-day moving average is $23.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91.

Old Second Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Friday, October 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.3%. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, October 30th. Old Second Bancorp’s dividend payout ratio is currently 16.09%.

Insiders Place Their Bets

In related news, CEO James Eccher sold 55,687 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $25.46, for a total value of $1,417,791.02. Following the transaction, the chief executive officer owned 322,712 shares in the company, valued at approximately $8,216,247.52. This trade represents a 14.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Campbell sold 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $25.53, for a total transaction of $612,720.00. Following the completion of the transaction, the insider owned 250,589 shares of the company’s stock, valued at $6,397,537.17. The trade was a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 149,000 shares of company stock worth $3,809,117 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. DA Davidson upped their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Wednesday, August 26th. Raymond James Financial raised shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $27.00 to $30.00 in a report on Tuesday, October 6th. Finally, Zacks Research cut Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.20.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides banking and financial services to individuals, families, businesses and governmental entities.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and cash-management services. The bank also provides wealth management, trust and investment-related services through its financial services operations.

Founded in 1871, Old Second has a long history of serving communities in northern Illinois, including the Fox Valley and Chicago metropolitan area.