Brokerages Set Old Second Bancorp, Inc. (NASDAQ:OSBC) Target Price at $25.40

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $25.40.

Several equities research analysts have recently issued reports on the company. Raymond James Financial started coverage on Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price target for the company. Piper Sandler restated an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. DA Davidson raised 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Wednesday, August 26th. Finally, Zacks Research downgraded shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st.

Insider Activity at Old Second Bancorp

In other Old Second Bancorp news, Director Hugh H. Mclean sold 25,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $25.63, for a total transaction of $640,750.00. Following the transaction, the director directly owned 135,351 shares of the company’s stock, valued at $3,469,046.13. This represents a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Darin Campbell sold 24,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $25.53, for a total value of $612,720.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 149,000 shares of company stock valued at $3,809,117. Insiders own 3.60% of the company’s stock.

Institutional Trading of Old Second Bancorp

Several large investors have recently made changes to their positions in OSBC. Legal & General Group Plc bought a new position in shares of Old Second Bancorp in the 2nd quarter valued at approximately $946,000. BlackRock Inc. bought a new stake in Old Second Bancorp during the second quarter worth approximately $100,245,000. MSH Capital Advisors LLC bought a new stake in Old Second Bancorp during the second quarter worth approximately $1,978,000. Deutsche Bank AG bought a new stake in Old Second Bancorp during the second quarter worth approximately $1,190,000. Finally, Bank of New York Mellon Corp acquired a new position in Old Second Bancorp during the second quarter valued at approximately $7,976,000. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Price Performance

OSBC opened at $24.55 on Monday. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 14.11 and a beta of 0.70. Old Second Bancorp has a 1 year low of $16.65 and a 1 year high of $26.06. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average price of $25.13 and a 200 day moving average price of $22.62.

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 12.79% and a net margin of 20.22%. Analysts forecast that Old Second Bancorp will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

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

About Old Second Bancorp

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.