Old Second Bancorp (NASDAQ:OSBC) Share Price Passes Above 200 Day Moving Average - Here's Why

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%.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report)'s share price crossed 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.

Analyst Upgrades and Downgrades

OSBC has been the subject of a number of research analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. Wall Street Zen upgraded Old Second Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, DA Davidson boosted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $21.38.

Old Second Bancorp Stock Up 0.1%

The firm's 50 day moving average price is $17.92 and its 200-day moving average price is $17.07. The company has a market cap of $942.44 million, a P/E ratio of 9.78 and a beta of 0.85. 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 quarterly 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). The company had revenue of $75.13 million during the quarter, compared to the consensus estimate of $63.58 million. Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%. As a group, equities research analysts expect that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Dividend Announcement

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

Institutional Investors Weigh In On Old Second Bancorp

Several large investors have recently modified their holdings of OSBC. Bank of America Corp DE grew its position in shares of Old Second Bancorp by 44.2% in the 4th quarter. Bank of America Corp DE now owns 236,062 shares of the financial services provider's stock valued at $4,197,000 after purchasing an additional 72,398 shares during the period. Deutsche Bank AG lifted its stake in Old Second Bancorp by 52.5% in the fourth quarter. Deutsche Bank AG now owns 41,005 shares of the financial services provider's stock valued at $729,000 after buying an additional 14,113 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Old Second Bancorp by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider's stock valued at $441,000 after buying an additional 843 shares during the period. Millennium Management LLC increased its position in shares of Old Second Bancorp by 452.4% during the fourth quarter. Millennium Management LLC now owns 308,223 shares of the financial services provider's stock worth $5,480,000 after acquiring an additional 252,430 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Old Second Bancorp by 188.2% during the fourth quarter. Nuveen Asset Management LLC now owns 281,572 shares of the financial services provider's stock worth $5,006,000 after acquiring an additional 183,869 shares in the last quarter. 67.76% of the stock is currently owned by 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.