Old Second Bancorp (NASDAQ:OSBC) Sees Strong Trading Volume

Old Second Bancorp, Inc. (NASDAQ:OSBC) saw unusually-strong trading volume on Wednesday . Approximately 419,141 shares were traded during trading, an increase of 99% from the previous session’s volume of 210,430 shares.The stock last traded at $16.77 and had previously closed at $16.57.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. DA Davidson lifted their price target on Old Second Bancorp from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, July 19th. Piper Sandler lifted their price objective on Old Second Bancorp from $18.00 to $19.50 and gave the company an “overweight” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Old Second Bancorp currently has a consensus rating of “Buy” and an average price target of $18.13.

Old Second Bancorp Trading Up 0.9 %

The company’s 50 day moving average price is $15.72 and its two-hundred day moving average price is $14.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $761.49 million, a PE ratio of 8.62 and a beta of 1.09.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old Second Bancorp had a return on equity of 15.16% and a net margin of 25.62%. The business had revenue of $70.82 million during the quarter, compared to analysts’ expectations of $70.03 million. As a group, analysts expect that Old Second Bancorp, Inc. will post 1.91 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 26th were given a $0.05 dividend. The ex-dividend date was Friday, July 26th. This represents a $0.20 annualized dividend and a yield of 1.18%. Old Second Bancorp’s payout ratio is 10.15%.

Insider Buying and Selling at Old Second Bancorp

In related news, Director John Ladowicz sold 30,585 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $16.22, for a total value of $496,088.70. Following the sale, the director now directly owns 189,192 shares in the company, valued at approximately $3,068,694.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Old Second Bancorp

Large investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in shares of Old Second Bancorp in the second quarter valued at approximately $33,000. Innealta Capital LLC acquired a new stake in shares of Old Second Bancorp during the second quarter worth $49,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Old Second Bancorp by 19.8% during the first quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 853 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Old Second Bancorp during the first quarter worth $90,000. Finally, PL Capital Advisors LLC acquired a new stake in shares of Old Second Bancorp during the first quarter worth $111,000. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

About Old Second Bancorp

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.