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

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 $19.86 and traded as high as $21.47. Old Second Bancorp shares last traded at $21.08, with a volume of 395,630 shares trading hands.

Analyst Ratings Changes

OSBC has been the subject of several research analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. DA Davidson boosted their price objective on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Friday, January 23rd. Stephens initiated coverage on shares of Old Second Bancorp in a research report on Friday, March 27th. They set an "overweight" rating and a $23.00 price objective for the company. Finally, Piper Sandler lowered their price objective on shares of Old Second Bancorp from $26.00 to $25.00 and set an "overweight" rating for the company in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Old Second Bancorp currently has an average rating of "Moderate Buy" and an average target price of $23.50.

Old Second Bancorp Trading Down 0.4%

The business's 50 day simple moving average is $20.37 and its two-hundred day simple moving average is $19.86. The stock has a market cap of $1.09 billion, a P/E ratio of 12.55 and a beta of 0.71. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.03). The company had revenue of $93.77 million for the quarter, compared to the consensus estimate of $94.80 million. Old Second Bancorp had a return on equity of 12.92% and a net margin of 20.07%. As a group, analysts expect that Old Second Bancorp, Inc. will post 2.16 EPS for the current year.

Old Second Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Friday, May 1st will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, May 1st. Old Second Bancorp's payout ratio is presently 16.67%.

Insider Buying and Selling at Old Second Bancorp

In other Old Second Bancorp news, insider Darin Patrick Campbell sold 35,000 shares of the business's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total transaction of $732,900.00. Following the sale, the insider owned 274,589 shares of the company's stock, valued at approximately $5,749,893.66. The trade was a 11.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.60% of the company's stock.

Institutional Trading of Old Second Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. 4WEALTH Advisors Inc. acquired a new position in shares of Old Second Bancorp during the third quarter worth $580,000. American Century Companies Inc. lifted its holdings in shares of Old Second Bancorp by 13.1% during the third quarter. American Century Companies Inc. now owns 1,387,891 shares of the financial services provider's stock worth $23,990,000 after purchasing an additional 160,429 shares during the period. Stieven Capital Advisors L.P. lifted its holdings in shares of Old Second Bancorp by 8.5% during the third quarter. Stieven Capital Advisors L.P. now owns 778,028 shares of the financial services provider's stock worth $13,448,000 after purchasing an additional 61,000 shares during the period. Blair William & Co. IL lifted its holdings in shares of Old Second Bancorp by 757.0% during the third quarter. Blair William & Co. IL now owns 154,436 shares of the financial services provider's stock worth $2,669,000 after purchasing an additional 136,416 shares during the period. Finally, Kennedy Capital Management LLC lifted its holdings in shares of Old Second Bancorp by 9.7% during the third quarter. Kennedy Capital Management LLC now owns 1,093,318 shares of the financial services provider's stock worth $18,898,000 after purchasing an additional 96,326 shares during the period. Institutional investors own 67.76% of the company's stock.

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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