Old Second Bancorp (NASDAQ:OSBC) CEO Sells $494,605.93 in Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) CEO James Eccher sold 19,313 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $25.61, for a total transaction of $494,605.93. Following the completion of the transaction, the chief executive officer owned 303,399 shares in the company, valued at $7,770,048.39. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

James Eccher also recently made the following trade(s):

• On Tuesday, August 11th, James Eccher sold 55,687 shares of Old Second Bancorp stock. The stock was sold at an average price of $25.46, for a total transaction of $1,417,791.02.

Old Second Bancorp Stock Up 0.4%

OSBC stock opened at $25.91 on Friday. The firm has a market cap of $1.32 billion, a PE ratio of 14.89 and a beta of 0.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.90 and a current ratio of 0.91. The firm’s 50 day moving average price is $23.66 and its 200-day moving average price is $21.62. Old Second Bancorp, Inc. has a one year low of $16.65 and a one year high of $26.04.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. On average, equities research analysts anticipate that Old Second Bancorp, Inc. will post 2.2 EPS for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 31st were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, July 31st. Old Second Bancorp’s dividend payout ratio is 16.09%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. purchased a new stake in Old Second Bancorp during the 4th quarter worth approximately $26,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Old Second Bancorp during the fourth quarter worth approximately $27,000. EverSource Wealth Advisors LLC raised its holdings in 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 valued at $26,000 after acquiring an additional 1,215 shares in the last quarter. Parkside Financial Bank & Trust purchased a new stake in shares of Old Second Bancorp in the 4th quarter valued at approximately $45,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Old Second Bancorp by 793.8% in the 4th quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 2,159 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. DA Davidson boosted their price objective on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Piper Sandler restated an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. Raymond James Financial began coverage on shares of Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective for the company. Zacks Research upgraded shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $25.40.

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.