Old Second Bancorp (NASDAQ:OSBC) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.32 and traded as high as $20.89. Old Second Bancorp shares last traded at $20.76, with a volume of 277,599 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Stephens assumed coverage on shares of Old Second Bancorp in a research report on Friday, March 27th. They set an “overweight” rating and a $23.00 target price for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. Finally, DA Davidson increased their target price on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Old Second Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $23.38.

Old Second Bancorp Trading Up 0.1%

The company has a market cap of $1.09 billion, a price-to-earnings ratio of 12.74 and a beta of 0.74. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $20.07 and its 200 day moving average price is $19.32.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $82.49 million. Old Second Bancorp had a net margin of 20.00% and a return on equity of 12.79%. As a group, equities analysts expect that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Friday, January 30th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Old Second Bancorp’s dividend payout ratio (DPR) is 17.18%.

Insider Activity at Old Second Bancorp

In other news, insider Darin Patrick Campbell sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total transaction of $732,900.00. Following the completion of the sale, the insider owned 274,589 shares of the company’s stock, valued at $5,749,893.66. This trade represents a 11.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $20.98, for a total value of $41,960.00. Following the completion of the transaction, the executive vice president owned 24,874 shares in the company, valued at approximately $521,856.52. This represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 37,091 shares of company stock valued at $776,744. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

A number of large investors have recently modified their holdings of the company. Los Angeles Capital Management LLC lifted its holdings in shares of Old Second Bancorp by 1.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 493 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Old Second Bancorp by 12.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 540 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Old Second Bancorp by 32.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 622 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in 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. Finally, Hudson Edge Investment Partners Inc. lifted its stake in Old Second Bancorp by 1.6% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 61,653 shares of the financial services provider’s stock valued at $1,066,000 after acquiring an additional 979 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors.

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.