Old Second Bancorp, Inc. (NASDAQ:OSBC) Stock Has Average Target Price of $26.20

Key Points

• Analyst sentiment is moderately positive: Seven brokerages give Old Second Bancorp a consensus “Moderate Buy” rating, with an average 12-month price target of $26.20. Recent targets include $30 from Piper Sandler and Raymond James.
• Insiders have been selling shares: Executives and directors sold 149,000 shares worth approximately $3.81 million over the past three months, while insiders retain a 3.60% ownership stake.
• Recent financial performance remained solid: The company met quarterly earnings expectations at $0.55 per share, reported a 12.79% return on equity and a 20.22% net margin, and pays a quarterly dividend of $0.07 per share.

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $26.20.

OSBC has been the subject of several recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Old Second Bancorp in a research note on Wednesday, August 26th. 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 target price on shares of Old Second Bancorp from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Zacks Research cut shares of Old Second Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Finally, Raymond James Financial raised shares of Old Second Bancorp from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $27.00 to $30.00 in a report on Tuesday, October 6th.

Insider Buying and Selling at Old Second Bancorp

In other Old Second Bancorp news, Director Hugh McLean sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $25.63, for a total value of $640,750.00. Following the sale, the director directly owned 135,351 shares of the company's stock, valued at approximately $3,469,046.13. This represents a 15.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James Eccher sold 19,313 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $25.61, for a total transaction of $494,605.93. Following the completion of the sale, the chief executive officer owned 303,399 shares in the company, valued at $7,770,048.39. The trade was a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 149,000 shares of company stock valued at $3,809,117. Insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Old Second Bancorp

Several large investors have recently bought and sold shares of OSBC. BlackRock Inc. acquired a new stake in Old Second Bancorp in the second quarter valued at $100,245,000. Dimensional Fund Advisors LP boosted its position in shares of Old Second Bancorp by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider's stock worth $48,159,000 after acquiring an additional 127,988 shares in the last quarter. Davis Asset Management L.P. acquired a new position in shares of Old Second Bancorp during the 2nd quarter worth about $41,976,000. The Manufacturers Life Insurance Company acquired a new position in shares of Old Second Bancorp during the 2nd quarter worth about $20,350,000. Finally, River Street Advisors LLC boosted its position in shares of 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 worth $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.

Old Second Bancorp Trading Up 0.9%

OSBC opened at $24.85 on Friday. Old Second Bancorp has a 12 month low of $16.65 and a 12 month high of $26.06. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 14.28 and a beta of 0.77. 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 fifty day moving average price of $25.16 and a 200 day moving average price of $23.21.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. Sell-side analysts expect that Old Second Bancorp will post 2.22 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

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

About Old Second Bancorp

Old Second Bancorp, Inc NASDAQ: OSBC is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides community banking services to individuals, families, businesses and institutions.

The bank offers a range of financial products and services, including commercial and residential real estate lending, business and consumer loans, checking and savings accounts, certificates of deposit, treasury management and online and mobile banking.

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