Old Second Bancorp (NASDAQ:OSBC) Hits New 1-Year High - Should You Buy?

Key Points

• Old Second Bancorp shares hit a new 52-week high, trading as high as $23.99 and closing near $23.92, up about 2.9% on the day.
• Wall Street sentiment remains positive, with five analysts rating the stock a Buy and a consensus target price of $24.20, while Raymond James and Piper Sandler both set or raised targets to $26.
• The bank recently reported Q1 earnings of $0.49 per share, slightly below estimates, and paid a quarterly dividend of $0.07 per share, for an annualized yield of about 1.2%.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $23.99 and last traded at $23.92, with a volume of 163337 shares traded. The stock had previously closed at $23.19.

Wall Street Analyst Weigh In

A number of research firms have commented on OSBC. Weiss Ratings restated a "buy (b)" rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Raymond James Financial assumed coverage on Old Second Bancorp in a report on Tuesday, July 7th. They issued an "outperform" rating and a $26.00 target price on the stock. Piper Sandler increased their price target on Old Second Bancorp from $25.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Finally, Stephens assumed coverage on Old Second Bancorp in a report on Friday, March 27th. They set an "overweight" rating and a $23.00 price target for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Old Second Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $24.20.

Old Second Bancorp Stock Up 2.9%

The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 14.20 and a beta of 0.70. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. The firm's 50-day simple moving average is $21.95 and its two-hundred day simple moving average is $20.88.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.03). The company had revenue of $93.77 million for the quarter, compared to analyst estimates of $94.80 million. Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%. On average, sell-side analysts expect that Old Second Bancorp, Inc. will post 2.15 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 1st. Old Second Bancorp's dividend payout ratio (DPR) is presently 16.67%.

Hedge Funds Weigh In On Old Second Bancorp

Several hedge funds have recently added to or reduced their stakes in OSBC. Harbour Investments Inc. bought a new stake in Old Second Bancorp during the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC raised 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 worth $26,000 after buying an additional 1,215 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Old Second Bancorp during the fourth quarter worth approximately $27,000. Parkside Financial Bank & Trust acquired a new position in Old Second Bancorp in the fourth quarter valued at approximately $45,000. Finally, Clearstead Advisors LLC boosted its stake in Old Second Bancorp by 793.8% in the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 2,159 shares during the last quarter. Institutional investors own 67.76% of the company's stock.

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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