Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Analysts broadly favor Old Second Bancorp: Seven firms give the stock a consensus “Buy” rating, with five buys, one strong buy and one hold. The average 12-month price target is $25.40, while recent targets range from $25 to $30.
• Old Second Bancorp reported quarterly EPS of $0.55, matching estimates, alongside a 12.79% return on equity and 20.22% net margin. Analysts expect full-year EPS of approximately $2.20.
• CEO James Eccher sold 55,687 shares worth about $1.42 million under a pre-arranged Rule 10b5-1 plan. Institutional investors own 67.76% of the company, and Old Second recently paid a quarterly dividend of $0.07, yielding about 1.1% annually.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) has received a consensus recommendation of "Buy" from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $25.40.

Several analysts recently weighed in on the stock. Raymond James Financial initiated coverage on shares of Old Second Bancorp in a report on Tuesday, July 7th. They issued an "outperform" rating and a $26.00 price target on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Old Second Bancorp in a research note on Friday, May 29th. DA Davidson upped their target price on Old Second Bancorp from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Zacks Research upgraded shares of Old Second Bancorp from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th.

Insider Activity

In other news, CEO James Eccher sold 55,687 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 322,712 shares of the company's stock, valued at $8,216,247.52. The trade was a 14.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OSBC. Harbour Investments Inc. purchased a new position in shares of Old Second Bancorp in the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC increased its stake 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 valued at $26,000 after purchasing an additional 1,215 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in Old Second Bancorp during the 4th quarter valued at about $27,000. Parkside Financial Bank & Trust purchased a new position in Old Second Bancorp in the fourth quarter worth about $45,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Old Second Bancorp by 793.8% in 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 in the last quarter. Hedge funds and other institutional investors own 67.76% of the company's stock.

Old Second Bancorp Trading Up 0.2%

OSBC opened at $25.25 on Thursday. 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 current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day simple moving average of $24.19 and a two-hundred day simple moving average of $21.92. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 14.51 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, meeting the consensus estimate of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. Analysts predict that Old Second Bancorp will post 2.2 EPS for the current year.

Old Second Bancorp Dividend Announcement

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

Old Second Bancorp Company Profile

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.

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