Old Second Bancorp (NASDAQ:OSBC) Hits New 12-Month High – Here’s Why

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.22 and last traded at $22.40, with a volume of 100150 shares traded. The stock had previously closed at $21.57.

Wall Street Analysts Forecast Growth

OSBC has been the subject of several analyst reports. DA Davidson raised their target price on Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Stephens initiated coverage on 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. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.38.

Old Second Bancorp Trading Up 1.7%

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 has a 50-day moving average of $20.28 and a 200 day moving average of $19.55. The company has a market cap of $1.14 billion, a P/E ratio of 13.45 and a beta of 0.74.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%.The company had revenue of $95.20 million for the quarter, compared to analyst estimates of $82.49 million. On average, analysts predict that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Friday, January 30th were given a dividend of $0.07 per share. The ex-dividend date 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 is presently 17.18%.

Insider Activity

In related news, insider Darin Patrick Campbell sold 35,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total transaction of $732,900.00. Following the sale, the insider owned 274,589 shares in the company, valued at $5,749,893.66. This represents a 11.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $20.98, for a total value of $41,960.00. Following the sale, the executive vice president owned 24,874 shares in the company, valued at approximately $521,856.52. The trade was a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 37,091 shares of company stock worth $776,744. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Old Second Bancorp

Several large investors have recently made changes to their positions in OSBC. Boston Partners acquired a new stake in shares of Old Second Bancorp in the 4th quarter valued at about $15,994,000. Wellington Management Group LLP grew its stake in shares of Old Second Bancorp by 521.2% in the 4th quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock valued at $18,909,000 after buying an additional 813,600 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Old Second Bancorp by 74.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after buying an additional 630,265 shares during the period. Vanguard Group Inc. grew 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 during the period. Finally, River Street Advisors LLC acquired a new stake in shares of Old Second Bancorp in the 3rd quarter valued at about $6,637,000. 67.76% of the stock is currently owned by institutional investors and hedge funds.

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.