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

Key Points

• "Moderate Buy" analyst consensus: five covering brokers average a "Moderate Buy" rating (four buys, one hold) with a 1‑year average price target of about $23.38 and recent targets raised to roughly $23.00.
• Insider selling activity: insiders have sold 37,091 shares worth $776,744 over the past 90 days (notable sales: EVP Richard Gartelmann Jr. 2,000 shares and Darin Patrick Campbell 35,000 shares), leaving insiders with 3.8% ownership.
• Institutional accumulation and solid results: institutions now own 67.76% of shares after big buys from Wellington, Vanguard, Goldman and others, and the company recently beat quarterly estimates (EPS $0.58 vs $0.53, revenue $95.2M vs $82.49M) while paying a $0.07 quarterly dividend (1.4% yield).

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) has earned an average recommendation of "Moderate Buy" from the five brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $23.3750.

A number of equities research analysts recently weighed in on OSBC shares. DA Davidson upped their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Friday, January 23rd. Stephens began coverage on Old Second Bancorp in a research note on Friday. They issued an "overweight" rating and a $23.00 target price on the stock. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Old Second Bancorp in a report on Thursday, January 22nd.

Insider Buying and Selling at Old Second Bancorp

In other news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the company's stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $20.98, for a total transaction of $41,960.00. Following the transaction, the executive vice president owned 24,874 shares in the company, valued at $521,856.52. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Darin Patrick Campbell sold 35,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total transaction of $732,900.00. Following the completion of the transaction, the insider directly owned 274,589 shares of the company's stock, valued at $5,749,893.66. The trade was a 11.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 37,091 shares of company stock worth $776,744. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Old Second Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in OSBC. Boston Partners acquired a new position in shares of Old Second Bancorp in the 4th quarter valued at $15,994,000. Wellington Management Group LLP grew its position in Old Second Bancorp by 521.2% during the fourth quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider's stock valued at $18,909,000 after buying an additional 813,600 shares during the period. Goldman Sachs Group Inc. increased its holdings in Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider's stock valued at $24,599,000 after buying an additional 630,265 shares in the last quarter. Vanguard Group Inc. increased its holdings in Old Second Bancorp by 20.4% in the third quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider's stock valued at $56,522,000 after buying an additional 553,169 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its position in shares of Old Second Bancorp by 93.3% in the second quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider's stock worth $17,687,000 after acquiring an additional 481,302 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Old Second Bancorp Stock Performance

Shares of Old Second Bancorp stock opened at $19.57 on Monday. The firm has a market cap of $1.03 billion, a P/E ratio of 12.01 and a beta of 0.79. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. Old Second Bancorp has a 12 month low of $14.14 and a 12 month high of $22.00. The stock's fifty day moving average price is $20.08 and its 200-day moving average price is $19.22.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.05. The company had revenue of $95.20 million during the quarter, compared to analyst estimates of $82.49 million. Old Second Bancorp had a net margin of 20.00% and a return on equity of 12.79%. On average, equities research analysts expect that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Friday, January 30th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, January 30th. Old Second Bancorp's dividend payout ratio is currently 17.18%.

About Old Second Bancorp

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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