Old Second Bancorp (NASDAQ:OSBC) CEO James Eccher Sells 19,313 Shares

Key Points

• CEO James Eccher sold 19,313 Old Second Bancorp shares for approximately $494,606 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 5.98%. He also sold 55,687 shares the previous day.
• Old Second Bancorp shares slipped 0.1% to $25.77, near their 52-week high of $26.04. The bank reported quarterly EPS of $0.55, in line with analyst expectations.
• The company pays a quarterly dividend of $0.07 per share, representing a 1.1% annualized yield. Analysts maintain a consensus “Buy” rating with an average price target of $25.40, while institutional investors own 67.76% of the stock.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) CEO James Eccher sold 19,313 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $25.61, for a total transaction of $494,605.93. Following the completion of the transaction, the chief executive officer directly owned 303,399 shares of the company's stock, valued at approximately $7,770,048.39. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

James Eccher also recently made the following trade(s):

• On Tuesday, August 11th, James Eccher sold 55,687 shares of Old Second Bancorp stock. The shares were sold at an average price of $25.46, for a total value of $1,417,791.02.

Old Second Bancorp Stock Down 0.1%

Shares of OSBC stock traded down $0.03 during midday trading on Thursday, reaching $25.77. 48,207 shares of the stock were exchanged, compared to its average volume of 395,961. Old Second Bancorp, Inc. has a 1 year low of $16.65 and a 1 year high of $26.04. The firm has a market cap of $1.31 billion, a PE ratio of 14.85 and a beta of 0.70. The company's 50 day moving average is $23.49 and its two-hundred day moving average is $21.55. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting analysts' consensus estimates of $0.55. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%. On average, equities research analysts predict that Old Second Bancorp, Inc. will post 2.2 EPS for the current year.

Old Second Bancorp Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. UBS Group AG boosted its stake in Old Second Bancorp by 295.2% during the fourth quarter. UBS Group AG now owns 177,102 shares of the financial services provider's stock worth $3,453,000 after buying an additional 132,290 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Old Second Bancorp during the first quarter worth $1,060,000. Principal Financial Group Inc. boosted its stake in shares of Old Second Bancorp by 50.8% during the first quarter. Principal Financial Group Inc. now owns 75,090 shares of the financial services provider's stock valued at $1,514,000 after purchasing an additional 25,308 shares during the period. Dimensional Fund Advisors LP increased its stake in Old Second Bancorp by 5.7% in 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 buying an additional 127,988 shares during the period. Finally, River Street Advisors LLC increased its stake in Old Second Bancorp by 104.0% in the 1st quarter. River Street Advisors LLC now owns 746,660 shares of the financial services provider's stock worth $15,053,000 after buying an additional 380,589 shares during the period. Institutional investors own 67.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Piper Sandler restated an "overweight" rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. DA Davidson raised their target price on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Raymond James Financial assumed coverage on shares of Old Second Bancorp in a report on Tuesday, July 7th. They set an "outperform" rating and a $26.00 target price for the company. Finally, Zacks Research raised Old Second Bancorp from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Old Second Bancorp presently has a consensus rating of "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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