Old Second Bancorp (NASDAQ:OSBC) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Shares of Old Second Bancorp (OSBC) crossed above its 200‑day moving average (200‑day = $19.19) during Monday's session, trading as high as $20.10 and last at $19.68 on volume of 673,802; analysts give a Moderate Buy consensus with an average target of $22.63 and DA Davidson lifting its target to $23.
• The company posted an earnings beat — $0.58 EPS vs. $0.53 expected and $95.2M revenue vs. $82.49M expected — leaving a market cap of $1.04B, a P/E of 12.07, and consensus FY EPS of 1.86.
• Insiders sold 37,091 shares worth $776,744 in the past three months (insiders now own 3.8%), and the bank pays a quarterly dividend of $0.07 (annualized yield 1.4%, payout ratio 17.18%).

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $19.19 and traded as high as $20.10. Old Second Bancorp shares last traded at $19.68, with a volume of 673,802 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OSBC. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. DA Davidson boosted their price target on Old Second Bancorp from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.63.

Old Second Bancorp Trading Up 1.2%

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 12.07 and a beta of 0.79. The company's fifty day moving average price is $20.15 and its 200-day moving average price is $19.19.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.05. Old Second Bancorp had a net margin of 20.00% and a return on equity of 12.79%. The company had revenue of $95.20 million during the quarter, compared to analysts' expectations of $82.49 million. On average, research analysts expect that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Friday, January 30th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. Old Second Bancorp's payout ratio is 17.18%.

Insider Buying and Selling at Old Second Bancorp

In related news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the company's stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $20.98, for a total value of $41,960.00. Following the transaction, the executive vice president directly owned 24,874 shares of the company's stock, valued at $521,856.52. This represents a 7.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Darin Patrick Campbell sold 35,000 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total value of $732,900.00. Following the completion of the transaction, the insider directly owned 274,589 shares in the company, valued at $5,749,893.66. This represents a 11.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 37,091 shares of company stock worth $776,744. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Old Second Bancorp

Institutional investors have recently bought and sold shares of the business. Harbour Investments Inc. acquired a new stake in Old Second Bancorp during the 4th quarter valued at approximately $26,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Old Second Bancorp in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC increased its stake in shares of Old Second Bancorp by 458.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider's stock worth $26,000 after acquiring an additional 1,215 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Old Second Bancorp during the third quarter worth $30,000. Finally, Parkside Financial Bank & Trust purchased a new position in shares of Old Second Bancorp during the fourth quarter worth $45,000. 67.76% of the stock is owned by hedge funds and other institutional investors.

Old Second Bancorp Company Profile

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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