Old Second Bancorp (NASDAQ:OSBC) Hits New 52-Week Low - Time to Sell?

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $15.46 and last traded at $15.79, with a volume of 261577 shares. The stock had previously closed at $16.14.

Analyst Upgrades and Downgrades

OSBC has been the subject of several research reports. Stephens reduced their price objective on Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Keefe, Bruyette & Woods cut their price target on Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $20.10.

Old Second Bancorp Price Performance

The firm has a market capitalization of $733.82 million, a PE ratio of 8.71 and a beta of 0.84. The business's 50 day moving average is $16.14 and its two-hundred day moving average is $17.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). The company had revenue of $73.57 million during the quarter, compared to analysts' expectations of $60.00 million. Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. Equities research analysts anticipate that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Friday, April 25th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, April 25th. Old Second Bancorp's payout ratio is 13.11%.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Old Second Bancorp by 16.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider's stock valued at $17,174,000 after purchasing an additional 153,187 shares during the period. Barclays PLC boosted its stake in Old Second Bancorp by 81.3% during the third quarter. Barclays PLC now owns 116,582 shares of the financial services provider's stock valued at $1,817,000 after buying an additional 52,277 shares during the period. Principal Financial Group Inc. boosted its stake in Old Second Bancorp by 11.5% during the third quarter. Principal Financial Group Inc. now owns 32,243 shares of the financial services provider's stock valued at $503,000 after buying an additional 3,313 shares during the period. SG Americas Securities LLC boosted its position in shares of Old Second Bancorp by 26.5% during the 4th quarter. SG Americas Securities LLC now owns 33,758 shares of the financial services provider's stock valued at $600,000 after acquiring an additional 7,068 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Old Second Bancorp by 31.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 168,934 shares of the financial services provider's stock worth $3,004,000 after purchasing an additional 40,542 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company's stock.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.