Old Second Bancorp (NASDAQ:OSBC) Hits New 1-Year High – Should You Buy?

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) reached a new 52-week high on Thursday . The company traded as high as $23.99 and last traded at $23.92, with a volume of 163337 shares trading hands. The stock had previously closed at $23.19.

Analyst Upgrades and Downgrades

OSBC has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Stephens started coverage on Old Second Bancorp in a research note on Friday, March 27th. They issued an “overweight” rating and a $23.00 target price on the stock. Raymond James Financial began coverage on Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 target price on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Old Second Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $24.20.

Old Second Bancorp Trading Up 2.9%

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.23 billion, a P/E ratio of 14.20 and a beta of 0.70. The company has a fifty day simple moving average of $21.95 and a two-hundred day simple moving average of $20.88.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%.The business had revenue of $93.77 million for the quarter, compared to analyst estimates of $94.80 million. On average, sell-side analysts expect that Old Second Bancorp, Inc. will post 2.15 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, May 11th. Shareholders of record on Friday, May 1st were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. Old Second Bancorp’s payout ratio is presently 16.67%.

Institutional Investors Weigh In On Old Second Bancorp

Several large investors have recently made changes to their positions in OSBC. UBS Group AG grew its position in Old Second Bancorp by 295.2% in the fourth quarter. UBS Group AG now owns 177,102 shares of the financial services provider’s stock valued at $3,453,000 after purchasing an additional 132,290 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Old Second Bancorp during the 1st quarter worth about $1,060,000. Davis Asset Management L.P. lifted its position in Old Second Bancorp by 16.4% during the 4th quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider’s stock worth $34,038,000 after buying an additional 245,523 shares in the last quarter. River Street Advisors LLC boosted its stake in shares of Old Second Bancorp by 104.0% during the 1st quarter. River Street Advisors LLC now owns 746,660 shares of the financial services provider’s stock worth $15,053,000 after buying an additional 380,589 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in shares of Old Second Bancorp by 15.9% in the 4th quarter. Kennedy Capital Management LLC now owns 1,267,042 shares of the financial services provider’s stock valued at $24,707,000 after acquiring an additional 173,724 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

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.