Old Second Bancorp (NASDAQ:OSBC) Reaches New 1-Year High at $17.06

Old Second Bancorp, Inc. (NASDAQ:OSBC) reached a new 52-week high on Tuesday . The stock traded as high as $17.06 and last traded at $17.00, with a volume of 115190 shares trading hands. The stock had previously closed at $16.57.

Analysts Set New Price Targets

Several equities analysts have weighed in on OSBC shares. Stephens restated an “overweight” rating and set a $17.00 price target on shares of Old Second Bancorp in a report on Friday, April 19th. DA Davidson raised their price target on Old Second Bancorp from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday. Raymond James upgraded Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price target for the company in a report on Thursday, April 4th. Finally, Piper Sandler raised their price objective on Old Second Bancorp from $18.00 to $19.50 and gave the company an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Old Second Bancorp currently has an average rating of “Buy” and an average price target of $18.13.

Old Second Bancorp Price Performance

The firm has a market capitalization of $761.55 million, a P/E ratio of 8.62 and a beta of 1.09. The firm has a 50 day moving average price of $14.63 and a 200-day moving average price of $14.17. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.14.

Old Second Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 26th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, July 26th. Old Second Bancorp’s dividend payout ratio is currently 10.15%.

Insider Buying and Selling

In related news, Vice Chairman Gary S. Collins sold 21,002 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $14.23, for a total transaction of $298,858.46. Following the completion of the sale, the insider now directly owns 46,624 shares of the company’s stock, valued at approximately $663,459.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Vice Chairman Gary S. Collins sold 21,002 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $14.23, for a total transaction of $298,858.46. Following the completion of the sale, the insider now directly owns 46,624 shares of the company’s stock, valued at approximately $663,459.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Ladowicz sold 30,585 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $16.22, for a total value of $496,088.70. Following the sale, the director now directly owns 189,192 shares of the company’s stock, valued at $3,068,694.24. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OSBC. Criterion Capital Advisors LLC acquired a new position in shares of Old Second Bancorp in the fourth quarter valued at about $46,000. Ameritas Investment Partners Inc. increased its holdings in shares of Old Second Bancorp by 19.8% in the first quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 853 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Old Second Bancorp in the first quarter valued at about $90,000. PL Capital Advisors LLC purchased a new stake in shares of Old Second Bancorp in the first quarter worth about $111,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Old Second Bancorp in the fourth quarter worth about $149,000. 67.76% of the stock is owned by institutional investors and hedge funds.

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.