Old Second Bancorp, Inc. (NASDAQ:OSBC) Stock Has Average Price Target of $25.40

by · The Markets Daily

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Free Report) have received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $25.40.

Several research analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. DA Davidson boosted their target price on shares of Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Zacks Research cut shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Raymond James Financial initiated coverage on shares of Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a report on Wednesday, August 26th.

Read Our Latest Analysis on Old Second Bancorp

Old Second Bancorp Trading Up 0.5%

Shares of OSBC stock opened at $24.95 on Monday. The business’s 50 day moving average is $25.18 and its two-hundred day moving average is $22.67. Old Second Bancorp has a twelve month low of $16.65 and a twelve month high of $26.06. The company has a market capitalization of $1.27 billion, a P/E ratio of 14.34 and a beta of 0.70. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Old Second Bancorp (NASDAQ:OSBC – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. Equities analysts forecast that Old Second Bancorp will post 2.21 EPS for the current year.

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Friday, July 31st were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. Old Second Bancorp’s dividend payout ratio is presently 16.09%.

Insider Activity

In related news, insider Darin Campbell sold 24,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $25.53, for a total transaction of $612,720.00. Following the sale, the insider owned 250,589 shares in the company, valued at approximately $6,397,537.17. This trade represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hugh McLean sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $25.63, for a total value of $640,750.00. Following the sale, the director owned 135,351 shares in the company, valued at $3,469,046.13. This trade represents a 15.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,000 shares of company stock worth $3,809,117 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Old Second Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Old Second Bancorp in the 2nd quarter valued at $44,000. NewEdge Advisors LLC purchased a new stake in Old Second Bancorp during the second quarter valued at about $202,000. Susquehanna Fundamental Investments LLC lifted its stake in Old Second Bancorp by 208.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 50,693 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 34,268 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Old Second Bancorp by 12.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,132 shares of the financial services provider’s stock worth $1,775,000 after buying an additional 8,602 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of Old Second Bancorp in the second quarter worth about $5,798,000. 67.76% of the stock is owned by hedge funds and other institutional investors.

Old Second Bancorp Company Profile

(Get Free Report)

Old Second Bancorp, Inc is the holding company for Old Second National Bank, a community bank headquartered in Aurora, Illinois. Founded in 1871, the bank serves individuals, businesses, municipalities and nonprofit organizations primarily across the greater Chicago metropolitan area and surrounding communities in northern Illinois.

Old Second National Bank provides a range of commercial and retail banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.

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