Old Second Bancorp (NASDAQ:OSBC) Sets New 52-Week High – Here’s Why

Old Second Bancorp, Inc. (NASDAQ:OSBC) reached a new 52-week high on Thursday . The stock traded as high as $25.67 and last traded at $25.29, with a volume of 539318 shares. The stock had previously closed at $25.22.

Analysts Set New Price Targets

Several research analysts recently weighed in on OSBC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. DA Davidson lifted their target price on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a report on Monday. Finally, Raymond James Financial began coverage on shares of Old Second Bancorp in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Old Second Bancorp has an average rating of “Moderate Buy” and a consensus target price of $25.40.

Old Second Bancorp Stock Performance

The firm’s fifty day moving average price is $22.77 and its 200 day moving average price is $21.26. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.30 billion, a PE ratio of 14.53 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%.The firm had revenue of $96.59 million for the quarter, compared to the consensus estimate of $94.88 million. On average, research analysts anticipate that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, July 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.1%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 16.09%.

Institutional Inflows and Outflows

Institutional investors 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 worth approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in Old Second Bancorp by 458.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,215 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Old Second Bancorp in the fourth quarter valued at approximately $27,000. Parkside Financial Bank & Trust bought a new position in shares of Old Second Bancorp in the fourth quarter valued at approximately $45,000. Finally, Clearstead Advisors LLC lifted its stake 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 worth $47,000 after buying an additional 2,159 shares during the last quarter. 67.76% of the stock is owned by 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.