Old Second Bancorp (NASDAQ:OSBC) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• The share price of Old Second Bancorp (NASDAQ: OSBC) recently crossed above its 200-day moving average, indicating a positive trend, with the stock trading at $17.84.
• Various analysts have differing ratings with Piper Sandler maintaining an "overweight" rating and a price target increase to $24.50, while Wall Street Zen downgraded it to a "sell".
• The company reported $0.48 earnings per share for the last quarter, slightly missing expectations, but exceeded revenue forecasts with $75.13 million in revenue.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.15 and traded as high as $18.19. Old Second Bancorp shares last traded at $17.84, with a volume of 369,284 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OSBC shares. Piper Sandler reiterated an "overweight" rating and set a $24.50 price target (up from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. Wall Street Zen lowered shares of Old Second Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Old Second Bancorp in a report on Wednesday, October 8th. Finally, DA Davidson upped their price objective on shares of Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $21.38.

Old Second Bancorp Price Performance

The stock has a fifty day simple moving average of $17.80 and a 200-day simple moving average of $17.15. The company has a market capitalization of $939.28 million, a PE ratio of 9.75 and a beta of 0.80. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Old Second Bancorp had a net margin of 24.38% and a return on equity of 12.53%. The firm had revenue of $75.13 million during the quarter, compared to analysts' expectations of $63.58 million. Equities analysts anticipate that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Institutional Investors Weigh In On Old Second Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Old Second Bancorp by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,711,390 shares of the financial services provider's stock valued at $45,118,000 after purchasing an additional 73,672 shares during the period. FJ Capital Management LLC lifted its position in shares of Old Second Bancorp by 1.5% during the 2nd quarter. FJ Capital Management LLC now owns 1,837,333 shares of the financial services provider's stock valued at $32,594,000 after acquiring an additional 26,613 shares during the period. Goldman Sachs Group Inc. raised its holdings in Old Second Bancorp by 74.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider's stock worth $24,599,000 after purchasing an additional 630,265 shares during the last quarter. Davis Asset Management L.P. raised its holdings in Old Second Bancorp by 25.9% during the second quarter. Davis Asset Management L.P. now owns 1,384,502 shares of the financial services provider's stock worth $24,561,000 after purchasing an additional 284,502 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Old Second Bancorp by 7.7% during the second quarter. American Century Companies Inc. now owns 1,227,462 shares of the financial services provider's stock worth $21,775,000 after purchasing an additional 87,721 shares during the last quarter. Institutional investors and hedge funds 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.

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