Old Second Bancorp (NASDAQ:OSBC) Hits New 12-Month High – Should You Buy?

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) reached a new 52-week high on Friday . The stock traded as high as $24.04 and last traded at $23.80, with a volume of 25972 shares traded. The stock had previously closed at $23.51.

Analyst Ratings Changes

OSBC has been the subject of a number of research analyst reports. Raymond James Financial initiated coverage on Old Second Bancorp in a report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. Finally, Piper Sandler boosted their price objective on shares of Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Old Second Bancorp Stock Performance

The firm has a fifty day simple moving average of $22.35 and a 200-day simple moving average of $21.07. The company has a market cap of $1.24 billion, a PE ratio of 13.81 and a beta of 0.70. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%.The business had revenue of $96.59 million during the quarter, compared to the consensus estimate of $94.88 million. On average, research analysts forecast that Old Second Bancorp, Inc. will post 2.17 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Friday, July 31st will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.28 annualized dividend and a yield of 1.2%. Old Second Bancorp’s payout ratio is 16.09%.

Hedge Funds Weigh In On Old Second Bancorp

A number of hedge funds have recently modified their holdings of the business. Harbour Investments Inc. purchased a new stake in Old Second Bancorp in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC grew its position in Old Second Bancorp by 458.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,215 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in Old Second Bancorp during the 4th quarter worth $27,000. Parkside Financial Bank & Trust acquired a new position in Old Second Bancorp in the fourth quarter valued at $45,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Old Second Bancorp by 793.8% in the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock valued at $47,000 after buying an additional 2,159 shares during 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.