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

Key Points

• Director Hugh Mclean sold 25,000 Old Second Bancorp shares at an average price of $25.63, generating $640,750. Following the sale, he retained 135,351 shares, a 15.59% reduction in his ownership.
• Old Second Bancorp shares closed at $25.53, near their 52-week high of $26.06. The company recently met quarterly earnings expectations with $0.55 EPS and maintains a $0.07 quarterly dividend, yielding approximately 1.1% annually.
• Analyst sentiment remains favorable, with five Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and a $25.40 target price; 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 dated Tuesday, September 8th. The stock was sold at an average price of $25.63, for a total transaction of $640,750.00. Following the transaction, the director directly owned 135,351 shares of the company's stock, valued at $3,469,046.13. The trade was a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Old Second Bancorp Price Performance

NASDAQ OSBC traded down $0.19 on Tuesday, reaching $25.53. The company's stock had a trading volume of 442,029 shares, compared to its average volume of 397,816. The firm has a market cap of $1.30 billion, a PE ratio of 14.67 and a beta of 0.70. The business has a 50-day moving average price of $24.64 and a 200 day moving average price of $22.19. Old Second Bancorp, Inc. has a 52 week low of $16.65 and a 52 week high of $26.06. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, hitting analysts' consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. Sell-side analysts expect that Old Second Bancorp, Inc. will post 2.2 EPS for the current year.

Old Second Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC grew its holdings 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 shares of Old Second Bancorp by 32.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider's stock worth $49,000 after purchasing an additional 622 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Old Second Bancorp by 0.8% during 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. increased its holdings in shares of Old Second Bancorp by 4.3% in 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 in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider's stock worth $26,000 after purchasing an additional 1,215 shares during the last quarter. 67.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. Piper Sandler restated an "overweight" rating and issued a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. Raymond James Financial started coverage on shares of Old Second Bancorp in a report on Tuesday, July 7th. They issued an "outperform" rating and a $26.00 target price on the stock. Zacks Research cut shares of Old Second Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 31st. Finally, DA Davidson lifted their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Old Second Bancorp presently has a consensus rating of "Moderate Buy" and a consensus 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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