Insider Selling: Old Second Bancorp (NASDAQ:OSBC) Director Sells $640,750.00 in Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) Director Hugh Mclean sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $25.63, for a total value of $640,750.00. Following the transaction, the director owned 135,351 shares in the company, valued at approximately $3,469,046.13. This trade represents a 15.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Old Second Bancorp Stock Performance

OSBC opened at $25.53 on Friday. The business has a fifty day simple moving average of $24.76 and a 200 day simple moving average of $22.29. The company has a market capitalization of $1.30 billion, a PE ratio of 14.67 and a beta of 0.70. Old Second Bancorp, Inc. has a 1 year low of $16.65 and a 1 year high of $26.06. 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 (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. Research analysts expect 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. Investors of record on Friday, July 31st were paid a $0.07 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. Old Second Bancorp’s dividend payout ratio is 16.09%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Zacks Research downgraded shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a report on Wednesday, August 26th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Raymond James Financial initiated coverage on Old Second Bancorp in a research note on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, DA Davidson increased their target price on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.40.

Institutional Trading of Old Second Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Old Second Bancorp during the 2nd quarter worth approximately $44,000. NewEdge Advisors LLC acquired a new position in Old Second Bancorp during the second quarter valued at approximately $202,000. California State Teachers Retirement System lifted its stake in Old Second Bancorp by 2,453.6% during the second quarter. California State Teachers Retirement System now owns 1,194,987 shares of the financial services provider’s stock worth $27,867,000 after purchasing an additional 1,148,191 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its stake in Old Second Bancorp by 208.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 50,693 shares of the financial services provider’s stock worth $1,182,000 after purchasing an additional 34,268 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Old Second Bancorp by 12.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,132 shares of the financial services provider’s stock valued at $1,775,000 after purchasing an additional 8,602 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

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.