Old Second Bancorp (NASDAQ:OSBC) Reaches New 52-Week High - What's Next?

Key Points

• Old Second Bancorp shares reached a new 52-week high of $26.04, trading near $25.79, supported by a consensus analyst rating of “Buy” and an average price target of $25.40.
• The company’s latest quarterly results met expectations with earnings of $0.55 per share, while revenue of $96.59 million exceeded analyst estimates; analysts project approximately $2.20 in full-year EPS.
• Old Second declared a quarterly dividend of $0.07 per share, equivalent to $0.28 annually and a 1.1% yield. Institutional investors own 67.76% of the company’s shares.

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $26.04 and last traded at $25.79, with a volume of 551603 shares. The stock had previously closed at $25.78.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OSBC shares. Piper Sandler restated an "overweight" rating and set a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Zacks Research upgraded shares of Old Second Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Raymond James Financial initiated coverage on Old Second Bancorp in a research note on Tuesday, July 7th. They issued an "outperform" rating and a $26.00 target price on the stock. DA Davidson raised their price target on Old Second Bancorp from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Old Second Bancorp in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Old Second Bancorp presently has a consensus rating of "Buy" and an average 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 company's fifty day moving average is $22.95 and its 200 day moving average is $21.35. The company has a market cap of $1.33 billion, a P/E ratio of 14.82 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (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 12.85%. The business had revenue of $96.59 million during the quarter, compared to analyst estimates of $94.88 million. As a group, equities analysts predict that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 31st will be paid 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%.

Hedge Funds Weigh In On Old Second Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Old Second Bancorp by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider's stock valued at $63,929,000 after purchasing an additional 8,395 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Old Second Bancorp by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider's stock worth $48,159,000 after purchasing an additional 127,988 shares during the last quarter. FJ Capital Management LLC grew its holdings in shares of Old Second Bancorp by 4.5% in the third quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider's stock worth $33,186,000 after purchasing an additional 82,601 shares during the last quarter. Davis Asset Management L.P. grew its holdings in shares of Old Second Bancorp by 16.4% in the fourth quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider's stock worth $34,038,000 after purchasing an additional 245,523 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Old Second Bancorp by 12.6% in the fourth quarter. State Street Corp now owns 1,539,419 shares of the financial services provider's stock worth $30,019,000 after buying an additional 171,941 shares during the period. 67.76% of the stock is currently owned by institutional investors.

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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