Hugh Mclean Sells 25,000 Shares of Old Second Bancorp (NASDAQ:OSBC) Stock

Key Points

• Director Hugh Mclean sold 25,000 Old Second Bancorp shares at an average price of $25.73, generating $643,250. He retains 135,351 shares, a 15.59% reduction in his direct ownership.
• OSBC shares rose to $25.68 and are near their 52-week high of $26.06. The company recently reported quarterly EPS of $0.55, in line with analyst expectations, and maintains a $0.07 quarterly dividend.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $25.40; institutional investors own 67.76% of the stock.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) Director Hugh Mclean sold 25,000 shares of the firm's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $25.73, for a total value of $643,250.00. Following the completion of the sale, the director directly owned 135,351 shares of the company's stock, valued at $3,482,581.23. This represents a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Old Second Bancorp Stock Performance

Shares of NASDAQ OSBC traded up $0.15 during trading on Thursday, reaching $25.68. 476,096 shares of the stock traded hands, compared to its average volume of 397,370. Old Second Bancorp, Inc. has a 52-week low of $16.65 and a 52-week 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 company has a 50-day moving average of $24.49 and a 200-day moving average of $22.08. The stock has a market capitalization of $1.31 billion, a P/E ratio of 14.76 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings data 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%. Analysts forecast that Old Second Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OSBC. Los Angeles Capital Management LLC grew its position in Old Second Bancorp by 1.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider's stock worth $519,000 after acquiring an additional 493 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Old Second Bancorp by 32.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 622 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Old Second Bancorp by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider's stock valued at $2,186,000 after purchasing an additional 908 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Old Second Bancorp by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider's stock valued at $430,000 after purchasing an additional 1,067 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Old Second Bancorp by 458.5% during the second 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 during the period. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OSBC shares. 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 price target (up from $26.00) on shares of Old Second Bancorp in a research report 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 stock a "neutral" rating in a report on Friday, July 24th. Raymond James Financial started coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They issued an "outperform" rating and a $26.00 price objective on the stock. Finally, Zacks Research lowered Old Second Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $25.40.

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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