Old Second Bancorp (NASDAQ:OSBC) Reaches New 12-Month High - Here's What Happened

Key Points

• Old Second Bancorp shares reached a new 52-week high, trading as high as $25.67 and closing near $25.29. Analysts maintain a generally positive outlook, with five Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and a $25.40 average price target.
• The company’s latest quarterly results met expectations, with EPS of $0.55 and revenue of $96.59 million, exceeding estimates of $94.88 million. Old Second reported a 12.85% return on equity and a 20.22% net margin.
• Old Second declared a quarterly dividend of $0.07 per share, equal to an annualized $0.28 payout and a 1.1% yield. Institutional investors own 67.76% of the company, with Goldman Sachs notably increasing its position by 74.3%.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $25.67 and last traded at $25.29, with a volume of 539318 shares traded. The stock had previously closed at $25.22.

Analysts Set New Price Targets

Several research firms recently weighed in on OSBC. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Old Second Bancorp in a research note on Friday, May 29th. DA Davidson upped their target price on Old Second Bancorp from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Raymond James Financial initiated coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They issued an "outperform" rating and a $26.00 price target for the company. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research note on Monday. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.40.

Old Second Bancorp Stock Performance

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.30 billion, a PE ratio of 14.53 and a beta of 0.70. The stock's 50 day moving average price is $22.60 and its two-hundred day moving average price is $21.19.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.55. The firm had revenue of $96.59 million for the quarter, compared to analyst estimates of $94.88 million. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%. On average, equities analysts expect that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current year.

Old Second Bancorp Announces Dividend

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

Institutional Trading of Old Second Bancorp

Large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider's stock worth $430,000 after purchasing an additional 1,067 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Old Second Bancorp by 74.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider's stock valued at $24,599,000 after purchasing an additional 630,265 shares in the last quarter. Empowered Funds LLC lifted its holdings in Old Second Bancorp by 38.7% in the 1st quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider's stock valued at $2,794,000 after purchasing an additional 46,890 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Old Second Bancorp during the 1st quarter worth about $1,378,000. Finally, Strs Ohio acquired a new stake in shares of Old Second Bancorp during the 1st quarter worth about $88,000. 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.

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