Old Second Bancorp (NASDAQ:OSBC) Hits New 52-Week High - Still a Buy?

Key Points

• 52-week high: Old Second hit a new 52-week high Friday (traded up to $22.22, last at $22.40 on ~100,150 shares) and holds a consensus Moderate Buy from analysts (4 Buys, 1 Hold) with an average target of $23.38.
• Earnings beat: The company reported $0.58 EPS vs $0.53 expected and $95.2M revenue vs $82.49M expected, with a 12.79% ROE and 20% net margin; analysts project ~1.86 EPS for the fiscal year.
• Dividend and insider activity: Old Second pays a $0.07 quarterly dividend (annualized $0.28, 1.3% yield) while insiders sold ~37,091 shares (~$776,744) in the last three months; the stock has a $1.14B market cap and a P/E of 13.49.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $22.22 and last traded at $22.40, with a volume of 100150 shares trading hands. The stock had previously closed at $21.57.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OSBC shares. Stephens started coverage on shares of Old Second Bancorp in a research note on Friday, March 27th. They set an "overweight" rating and a $23.00 target price for the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. Finally, DA Davidson boosted their target price on Old Second Bancorp from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, January 23rd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $23.38.

Old Second Bancorp Price Performance

The stock has a market capitalization of $1.14 billion, a PE ratio of 13.49 and a beta of 0.74. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The firm's 50-day moving average price is $20.27 and its 200-day moving average price is $19.50.

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

Old Second Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Friday, January 30th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Old Second Bancorp's dividend payout ratio is currently 17.18%.

Insider Buying and Selling at Old Second Bancorp

In other news, insider Darin Patrick Campbell sold 35,000 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total value of $732,900.00. Following the sale, the insider owned 274,589 shares of the company's stock, valued at approximately $5,749,893.66. This represents a 11.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $20.98, for a total transaction of $41,960.00. Following the completion of the sale, the executive vice president directly owned 24,874 shares in the company, valued at approximately $521,856.52. This represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 37,091 shares of company stock worth $776,744. Insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC grew its stake in shares of Old Second Bancorp by 1.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider's stock valued at $519,000 after buying an additional 493 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Old Second Bancorp by 12.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider's stock worth $93,000 after purchasing an additional 540 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Old Second Bancorp by 32.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider's stock worth $49,000 after purchasing an additional 622 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Old Second Bancorp by 0.8% during the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider's stock worth $2,186,000 after purchasing an additional 908 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. lifted its position in shares of Old Second Bancorp by 1.6% during the third quarter. Hudson Edge Investment Partners Inc. now owns 61,653 shares of the financial services provider's stock worth $1,066,000 after purchasing an additional 979 shares during the last quarter. Institutional investors 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.