Analysts Set Old Second Bancorp, Inc. (NASDAQ:OSBC) Target Price at $25.40

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have earned an average rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $25.40.

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research note on Wednesday, August 26th. DA Davidson boosted their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Raymond James Financial began coverage on shares of Old Second Bancorp in a report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. Finally, Zacks Research upgraded shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th.

Old Second Bancorp Price Performance

Shares of NASDAQ:OSBC opened at $25.08 on Thursday. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 14.41 and a beta of 0.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. Old Second Bancorp has a 12 month low of $16.65 and a 12 month high of $26.06. The stock’s 50 day moving average price is $24.39 and its 200 day moving average price is $22.01.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (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%. Equities research analysts anticipate that Old Second Bancorp will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Friday, July 31st were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, July 31st. Old Second Bancorp’s dividend payout ratio (DPR) is presently 16.09%.

Insider Transactions at Old Second Bancorp

In other news, CEO James Eccher sold 55,687 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $25.46, for a total transaction of $1,417,791.02. Following the completion of the sale, the chief executive officer owned 322,712 shares in the company, valued at approximately $8,216,247.52. This represents a 14.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Old Second Bancorp during the 2nd quarter worth about $100,245,000. Ieq Capital LLC acquired a new position in shares of Old Second Bancorp in the second quarter worth about $1,173,000. MSH Capital Advisors LLC purchased a new position in shares of Old Second Bancorp in the second quarter worth approximately $1,978,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Old Second Bancorp in the first quarter worth approximately $1,060,000. Finally, UBS Group AG raised its holdings in shares of Old Second Bancorp by 295.2% during the fourth quarter. UBS Group AG now owns 177,102 shares of the financial services provider’s stock valued at $3,453,000 after acquiring an additional 132,290 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.