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

Old Second Bancorp, Inc. (NASDAQ:OSBC) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $18.61 and traded as high as $20.05. Old Second Bancorp shares last traded at $19.84, with a volume of 375,959 shares traded.

Analysts Set New Price Targets

A number of research firms have commented on OSBC. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. Wall Street Zen upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods lifted their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Finally, DA Davidson boosted their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Old Second Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $22.63.

Old Second Bancorp Stock Performance

The stock has a market capitalization of $1.04 billion, a PE ratio of 12.17 and a beta of 0.82. The firm’s fifty day moving average is $19.97 and its 200-day moving average is $18.61. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Old Second Bancorp had a net margin of 20.00% and a return on equity of 13.36%. The company had revenue of $95.21 million for the quarter, compared to analyst estimates of $82.49 million. As a group, research analysts anticipate that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Friday, January 30th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. Old Second Bancorp’s dividend payout ratio (DPR) is 17.18%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in Old Second Bancorp by 74.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock worth $24,599,000 after buying an additional 630,265 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Old Second Bancorp by 20.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock valued at $56,522,000 after buying an additional 553,169 shares in the last quarter. Kennedy Capital Management LLC raised its stake in shares of Old Second Bancorp by 93.3% in the 2nd quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider’s stock valued at $17,687,000 after buying an additional 481,302 shares in the last quarter. River Street Advisors LLC bought a new position in shares of Old Second Bancorp during the 3rd quarter worth about $6,637,000. Finally, Davis Asset Management L.P. boosted its position in shares of Old Second Bancorp by 25.9% during the 2nd quarter. Davis Asset Management L.P. now owns 1,384,502 shares of the financial services provider’s stock valued at $24,561,000 after acquiring an additional 284,502 shares in the last quarter. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

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.