Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Old Second Bancorp, Inc. (NASDAQ:OSBC) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $25.40.

OSBC has been the topic of a number of recent analyst reports. Raymond James Financial started coverage on Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. Piper Sandler reaffirmed an “overweight” rating and set a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. DA Davidson increased their price target 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. Finally, Zacks Research cut shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st.

Insider Transactions at Old Second Bancorp

In related news, insider Darin Campbell sold 24,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $25.53, for a total value of $612,720.00. Following the completion of the transaction, the insider directly owned 250,589 shares of the company’s stock, valued at $6,397,537.17. This trade represents a 8.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Eccher sold 19,313 shares of Old Second Bancorp stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $25.61, for a total value of $494,605.93. Following the transaction, the chief executive officer directly owned 303,399 shares of the company’s stock, valued at approximately $7,770,048.39. This represents a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 149,000 shares of company stock valued at $3,809,117 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Old Second Bancorp

Several large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Old Second Bancorp in the 2nd quarter valued at about $100,245,000. Davis Asset Management L.P. acquired a new position in Old Second Bancorp during the second quarter worth about $41,976,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Old Second Bancorp in the second quarter valued at about $20,350,000. River Street Advisors LLC lifted its holdings in shares of Old Second Bancorp by 104.0% in the first quarter. River Street Advisors LLC now owns 746,660 shares of the financial services provider’s stock valued at $15,053,000 after purchasing an additional 380,589 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Old Second Bancorp in the second quarter valued at approximately $8,690,000. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Price Performance

Shares of NASDAQ:OSBC opened at $24.95 on Monday. Old Second Bancorp has a 52 week low of $16.65 and a 52 week high of $26.06. The company has a 50-day moving average price of $25.18 and a 200 day moving average price of $22.69. The company has a market cap of $1.27 billion, a P/E ratio of 14.34 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 released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) 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 predict that Old Second Bancorp will post 2.21 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. Old Second Bancorp’s dividend payout ratio (DPR) is 16.09%.

About Old Second Bancorp

Old Second Bancorp, Inc is the holding company for Old Second National Bank, a community bank headquartered in Aurora, Illinois. Founded in 1871, the bank serves individuals, businesses, municipalities and nonprofit organizations primarily across the greater Chicago metropolitan area and surrounding communities in northern Illinois.

Old Second National Bank provides a range of commercial and retail banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.