Old Second Bancorp, Inc. (NASDAQ:OSBC) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts rate Old Second Bancorp “Moderate Buy.” Five of seven analysts recommend buying the stock, while two rate it a hold; the average 12-month price target is $25.40.
• Insiders have been selling shares. Company insiders sold 149,000 shares worth approximately $3.81 million over the past 90 days, while institutional investors own 67.76% of the stock.
• Old Second Bancorp reported quarterly EPS of $0.55, matching estimates, and maintains a $0.07 quarterly dividend, equivalent to a 1.1% yield.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $25.40.

OSBC has been the topic of a number of recent analyst reports. 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 target price on the stock. Zacks Research lowered shares of Old Second Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Piper Sandler reiterated an "overweight" rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. DA Davidson boosted their price objective 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. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th.

Insiders Place Their Bets

In other Old Second Bancorp news, insider Darin Campbell sold 24,000 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $25.53, for a total value of $612,720.00. Following the completion of the sale, the insider directly owned 250,589 shares of the company's stock, valued at $6,397,537.17. This trade represents a 8.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hugh McLean sold 25,000 shares of Old Second Bancorp stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $25.73, for a total transaction of $643,250.00. Following the transaction, the director directly owned 135,351 shares in the company, valued at $3,482,581.23. This trade represents a 15.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 149,000 shares of company stock valued at $3,809,117. Insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OSBC. Harbour Investments Inc. acquired a new stake in Old Second Bancorp in the 4th quarter valued at approximately $26,000. Rockefeller Capital Management L.P. acquired a new position in Old Second Bancorp during the fourth quarter worth $27,000. Integrated Wealth Concepts LLC acquired a new position in Old Second Bancorp during the second quarter worth $44,000. Clearstead Advisors LLC boosted its position in shares of Old Second Bancorp by 793.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider's stock worth $47,000 after buying an additional 2,159 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Old Second Bancorp by 181.3% during the first quarter. Parallel Advisors LLC now owns 2,622 shares of the financial services provider's stock worth $53,000 after buying an additional 1,690 shares during the period. Institutional investors and hedge funds own 67.76% of the company's stock.

Old Second Bancorp Price Performance

OSBC stock opened at $24.99 on Monday. Old Second Bancorp has a one year low of $16.65 and a one year high of $26.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. The firm's fifty day moving average is $25.04 and its 200 day moving average is $22.52. The firm has a market cap of $1.27 billion, a PE ratio of 14.36 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. On average, research analysts forecast that Old Second Bancorp will post 2.2 EPS for the current 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, July 31st. Old Second Bancorp's dividend payout ratio is currently 16.09%.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is the holding company for Old Second National Bank, a community bank headquartered in Aurora, Illinois. Founded in 1871, the bank serves individuals, businesses, municipalities and nonprofit organizations primarily across the greater Chicago metropolitan area and surrounding communities in northern Illinois.

Old Second National Bank provides a range of commercial and retail banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.

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