Old Second Bancorp (NASDAQ:OSBC) Hits New 1-Year High - What's Next?

Key Points

• Old Second Bancorp shares reached a new 52-week high, trading as high as $26.06, with the stock recently valued at about $25.89.
• Analyst sentiment is broadly positive: the company has a consensus “Buy” rating, with price targets ranging from $25 to $30 and a consensus target of $25.40.
• The bank reported quarterly EPS of $0.55, matching estimates, and maintains a $0.07 quarterly dividend, equivalent to a 1.1% yield. CEO James Eccher also sold nearly 19,313 shares under a pre-arranged trading plan.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $26.06 and last traded at $25.8860, with a volume of 33582 shares traded. The stock had previously closed at $25.91.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. DA Davidson lifted their price objective on Old Second Bancorp from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Piper Sandler reissued an "overweight" rating and set a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Zacks Research upgraded shares of Old Second Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Finally, Raymond James Financial started coverage on shares of Old Second Bancorp in a report on Tuesday, July 7th. They set an "outperform" rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Old Second Bancorp currently has a consensus rating of "Buy" and a consensus target price of $25.40.

Old Second Bancorp Price Performance

The company has a market cap of $1.32 billion, a PE ratio of 14.92 and a beta of 0.70. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The firm has a 50 day simple moving average of $23.66 and a 200-day simple moving average of $21.63.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. As a group, research analysts predict that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

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

Insiders Place Their Bets

In other Old Second Bancorp news, CEO James Eccher sold 19,313 shares of Old Second Bancorp stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $25.61, for a total value of $494,605.93. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Old Second Bancorp

Institutional investors have recently made changes to their positions in the business. UBS Group AG boosted its position in Old Second Bancorp by 295.2% in the fourth quarter. UBS Group AG now owns 177,102 shares of the financial services provider's stock valued at $3,453,000 after buying an additional 132,290 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Old Second Bancorp during the 1st quarter worth approximately $1,060,000. Principal Financial Group Inc. lifted its stake in Old Second Bancorp by 50.8% during the 1st quarter. Principal Financial Group Inc. now owns 75,090 shares of the financial services provider's stock valued at $1,514,000 after acquiring an additional 25,308 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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 valued at $48,159,000 after acquiring an additional 127,988 shares during the last quarter. Finally, River Street Advisors LLC boosted its holdings in shares of 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 valued at $15,053,000 after acquiring an additional 380,589 shares during the last quarter. Institutional investors and hedge funds own 67.76% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source