Old Second Bancorp (NASDAQ:OSBC) Hits New 52-Week High – Here’s What Happened

Old Second Bancorp, Inc. (NASDAQ:OSBC) shares reached a new 52-week high on Wednesday . The company traded as high as $22.75 and last traded at $22.7640, with a volume of 17058 shares trading hands. The stock had previously closed at $22.57.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OSBC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Piper Sandler dropped their target price on Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Finally, Stephens assumed coverage on Old Second Bancorp in a research note on Friday, March 27th. They issued an “overweight” rating and a $23.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Old Second Bancorp has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Old Second Bancorp Stock Performance

The company’s fifty day simple moving average is $21.30 and its two-hundred day simple moving average is $20.57. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 13.60 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). The company had revenue of $93.77 million during the quarter, compared to analyst estimates of $94.80 million. Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.67%. Equities research analysts predict that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were paid a dividend of $0.07 per share. The ex-dividend date was Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 1.2%. Old Second Bancorp’s dividend payout ratio is presently 16.67%.

Institutional Investors Weigh In On Old Second Bancorp

A number of institutional investors have recently made changes to their positions in the company. Boston Partners acquired a new stake in shares of Old Second Bancorp during the 4th quarter valued at approximately $15,994,000. Wellington Management Group LLP increased its stake in Old Second Bancorp by 521.2% during the fourth quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock valued at $18,909,000 after purchasing an additional 813,600 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Old Second Bancorp by 74.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after purchasing an additional 630,265 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Old Second Bancorp by 20.4% during the third quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock worth $56,522,000 after purchasing an additional 553,169 shares during the period. Finally, River Street Advisors LLC raised its holdings in shares of Old Second Bancorp by 104.0% during the first quarter. River Street Advisors LLC now owns 746,660 shares of the financial services provider’s stock worth $15,053,000 after purchasing an additional 380,589 shares during the period. 67.76% of the stock is currently owned by 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.