Old Second Bancorp (NASDAQ:OSBC) Hits New 12-Month High – Time to Buy?

Old Second Bancorp, Inc. (NASDAQ:OSBC) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.62 and last traded at $23.5170, with a volume of 37585 shares changing hands. The stock had previously closed at $23.32.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. 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 target for the company. Finally, Piper Sandler lifted their price objective on shares of Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Old Second Bancorp Stock Performance

The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 14.07 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a fifty day simple moving average of $21.45 and a two-hundred day simple moving average of $20.68.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data 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 analysts’ expectations of $94.80 million. Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.67%. On average, analysts expect that Old Second Bancorp, Inc. will post 2.16 EPS for the current year.

Old Second Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC grew its position in Old Second Bancorp by 1.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 493 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Old Second Bancorp by 12.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $93,000 after buying an additional 540 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Old Second Bancorp by 32.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock worth $49,000 after buying an additional 622 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Old Second Bancorp by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock worth $2,186,000 after buying an additional 908 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Old Second Bancorp by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 1,067 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

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.