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

Old Second Bancorp, Inc. (NASDAQ:OSBC) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $18.85 and traded as high as $21.14. Old Second Bancorp shares last traded at $20.54, with a volume of 343,724 shares changing hands.

Wall Street Analyst Weigh In

OSBC has been the topic of several research analyst reports. DA Davidson lifted their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. 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 raised their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Old Second Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $22.63.

Old Second Bancorp Stock Down 1.4%

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $1.08 billion, a PE ratio of 12.60 and a beta of 0.82. The business’s 50 day simple moving average is $20.31 and its 200 day simple moving average is $18.85.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly 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 business had revenue of $95.21 million during the quarter, compared to the consensus estimate of $82.49 million. As a group, analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Friday, January 30th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, January 30th. Old Second Bancorp’s dividend payout ratio is 17.18%.

Insider Activity

In other Old Second Bancorp news, 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 transaction, the executive vice president owned 24,874 shares of the company’s stock, valued at $521,856.52. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Old Second Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbour Investments Inc. acquired a new stake in Old Second Bancorp in the 4th quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its stake in shares of Old Second Bancorp by 458.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,215 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Old Second Bancorp in the 3rd quarter valued at $30,000. Parkside Financial Bank & Trust acquired a new position in Old Second Bancorp during the 4th quarter worth about $45,000. Finally, Clearstead Advisors LLC boosted its holdings in Old Second Bancorp by 793.8% during the 4th quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 2,159 shares during the period. 67.76% of the stock is 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.