Old Second Bancorp (NASDAQ:OSBC) Sets New 52-Week High – Time to Buy?

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) reached a new 52-week high on Monday . The stock traded as high as $26.06 and last traded at $25.8860, with a volume of 33582 shares trading hands. The stock had previously closed at $25.91.

Analysts Set New Price Targets

A number of research firms have commented on OSBC. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Raymond James Financial initiated coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. DA Davidson increased their price objective on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Zacks Research upgraded Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $25.40.

Old Second Bancorp Trading Down 0.7%

The business’s fifty day moving average is $23.82 and its 200 day moving average is $21.72. The stock has a market cap of $1.31 billion, a PE ratio of 14.75 and a beta of 0.70. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. As a group, analysts predict that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 31st were issued a $0.07 dividend. 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 is 16.09%.

Insider Activity

In other Old Second Bancorp news, CEO James Eccher sold 19,313 shares of the firm’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 sale, the chief executive officer directly owned 303,399 shares of the company’s stock, valued at $7,770,048.39. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC increased its position in shares of Old Second Bancorp by 1.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 493 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Old Second Bancorp by 32.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 622 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Old Second Bancorp by 0.8% during the 4th quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock valued at $2,186,000 after acquiring an additional 908 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 1,067 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,215 shares in the last quarter. Hedge funds and other 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.