Old Second Bancorp (NASDAQ:OSBC) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.25 and traded as high as $20.00. Old Second Bancorp shares last traded at $19.79, with a volume of 223,301 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OSBC. Wall Street Zen raised Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.63.

Old Second Bancorp Price Performance

The stock has a market capitalization of $1.04 billion, a PE ratio of 13.11 and a beta of 0.82. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12. The company’s 50 day simple moving average is $19.07 and its 200 day simple moving average is $18.25.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. The business had revenue of $95.88 million for the quarter, compared to analysts’ expectations of $80.45 million. Old Second Bancorp had a return on equity of 12.34% and a net margin of 18.89%. On average, equities analysts anticipate that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 31st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, October 31st. Old Second Bancorp’s dividend payout ratio (DPR) is presently 18.54%.

Insider Buying and Selling at Old Second Bancorp

In other news, insider Darin Patrick Campbell sold 31,159 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $17.89, for a total transaction of $557,434.51. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Old Second Bancorp during the first quarter valued at about $668,000. Geode Capital Management LLC lifted its stake in shares of Old Second Bancorp by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,151,371 shares of the financial services provider’s stock valued at $20,429,000 after purchasing an additional 24,565 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Old Second Bancorp by 42.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 189,920 shares of the financial services provider’s stock worth $3,369,000 after purchasing an additional 56,240 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Old Second Bancorp by 22.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 33,284 shares of the financial services provider’s stock worth $590,000 after purchasing an additional 6,149 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in Old Second Bancorp by 42.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 100,000 shares of the financial services provider’s stock worth $1,664,000 after purchasing an additional 30,013 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

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.