Old Second Bancorp (NASDAQ:OSBC) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Old Second Bancorp's stock price has recently surpassed its 200-day moving average of $17.06, trading at $18.36 with a volume of 371,536 shares.
• Analysts have upgraded the stock's ratings, with current consensus being a "Buy" and an average price target of $21.38.
• The company declared a special dividend of $0.06 per share, reflecting a remarkable dividend yield of 130.0%.

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.06 and traded as high as $18.41. Old Second Bancorp shares last traded at $18.36, with a volume of 371,536 shares trading hands.

Analyst Upgrades and Downgrades

OSBC has been the topic of a number of recent research reports. DA Davidson increased their target price on Old Second Bancorp from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Piper Sandler reaffirmed an "overweight" rating and set a $24.50 price target (up from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. Finally, Wall Street Zen raised Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Old Second Bancorp presently has an average rating of "Buy" and an average target price of $21.38.

Old Second Bancorp Stock Performance

The stock has a market cap of $941.91 million, a PE ratio of 9.78 and a beta of 0.85. The company's 50-day moving average price is $17.94 and its two-hundred day moving average price is $17.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85.

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 (EPS) 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 business had revenue of $75.13 million for the quarter, compared to analysts' expectations of $63.58 million. On average, equities research analysts forecast that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The firm also recently declared a special dividend, which was paid on Monday, August 4th. Investors of record on Friday, July 25th were paid a dividend of $0.06 per share. This represents a dividend yield of 130.0%. The ex-dividend date of this dividend was Friday, July 25th. Old Second Bancorp's dividend payout ratio (DPR) is currently 13.11%.

Institutional Trading of Old Second Bancorp

Several large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Old Second Bancorp by 458.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 1,215 shares during the last quarter. Strs Ohio purchased a new stake in shares of Old Second Bancorp in the 1st quarter valued at about $88,000. GAMMA Investing LLC raised its stake in shares of Old Second Bancorp by 4,125.0% during the first quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock worth $90,000 after purchasing an additional 5,280 shares during the last quarter. Quarry LP raised its stake in shares of Old Second Bancorp by 145.5% during the 1st quarter. Quarry LP now owns 5,802 shares of the financial services provider's stock worth $97,000 after buying an additional 3,439 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Old Second Bancorp by 446.9% during the second quarter. Tower Research Capital LLC TRC now owns 6,306 shares of the financial services provider's stock worth $112,000 after purchasing an additional 5,153 shares during the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

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.