Old Second Bancorp (NASDAQ:OSBC) Director Sells $643,250.00 in Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) Director Hugh Mclean sold 25,000 shares of Old Second Bancorp stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $25.73, for a total transaction of $643,250.00. Following the completion of the sale, the director owned 135,351 shares in the company, valued at approximately $3,482,581.23. This represents a 15.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Old Second Bancorp Price Performance

NASDAQ OSBC opened at $25.72 on Friday. The company has a 50-day moving average price of $24.59 and a two-hundred day moving average price of $22.14. Old Second Bancorp, Inc. has a 52 week low of $16.65 and a 52 week high of $26.06. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 14.78 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) last released its quarterly earnings results 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 return on equity of 12.79% and a net margin of 20.22%. Analysts forecast that Old Second Bancorp, Inc. will post 2.2 EPS for the current year.

Old Second Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Old Second Bancorp

Several hedge funds have recently modified their holdings of the company. Harbour Investments Inc. bought a new stake in shares of Old Second Bancorp in the 4th quarter worth $26,000. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 1,215 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Old Second Bancorp during the fourth quarter worth about $27,000. Parkside Financial Bank & Trust acquired a new position in Old Second Bancorp during the fourth quarter worth about $45,000. Finally, Clearstead Advisors LLC raised its position in 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 acquiring an additional 2,159 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OSBC shares. DA Davidson increased their price target on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Wednesday, August 26th. Zacks Research lowered shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Raymond James Financial assumed coverage on shares of Old Second Bancorp in a research note on Tuesday, July 7th. They set an “outperform” rating and a $26.00 target price on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.40.

Old Second Bancorp Company Profile

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.