James Eccher Sells 55,687 Shares of Old Second Bancorp (NASDAQ:OSBC) Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) CEO James Eccher sold 55,687 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $25.46, for a total transaction of $1,417,791.02. Following the completion of the sale, the chief executive officer owned 322,712 shares of the company’s stock, valued at approximately $8,216,247.52. This trade represents a 14.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

James Eccher also recently made the following trade(s):

• On Wednesday, August 12th, James Eccher sold 19,313 shares of Old Second Bancorp stock. The stock was sold at an average price of $25.61, for a total transaction of $494,605.93.

Old Second Bancorp Trading Up 0.0%

Shares of Old Second Bancorp stock opened at $25.81 on Friday. Old Second Bancorp, Inc. has a 1 year low of $16.65 and a 1 year high of $26.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $1.31 billion, a P/E ratio of 14.83 and a beta of 0.70. The company’s fifty day moving average is $23.57 and its two-hundred day moving average is $21.59.

Old Second Bancorp (NASDAQ:OSBC) last announced 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 net margin of 20.22% and a return on equity of 12.85%. Analysts forecast that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current year.

Old Second Bancorp Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on OSBC. Piper Sandler reaffirmed an “overweight” rating and set a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. Raymond James Financial began coverage on Old Second Bancorp in a research note on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price target for the company. Zacks Research raised Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Finally, DA Davidson lifted their price objective on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $25.40.

Institutional Investors Weigh In On Old Second Bancorp

A number of institutional investors have recently added to or reduced their stakes in OSBC. Los Angeles Capital Management LLC increased its position in Old Second Bancorp by 1.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 493 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Old Second Bancorp by 32.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock valued at $49,000 after buying an additional 622 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Old Second Bancorp by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock valued at $2,186,000 after buying an additional 908 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Old Second Bancorp by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 1,067 shares during the period. Finally, 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 worth $26,000 after acquiring an additional 1,215 shares during the period. Hedge funds and other institutional investors own 67.76% of the company’s stock.

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.