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

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $19.37 and last traded at $19.20, with a volume of 6393 shares. The stock had previously closed at $19.16.

Wall Street Analyst Weigh In

A number of brokerages have commented on OSBC. Piper Sandler raised their target price on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Stephens reaffirmed an “overweight” rating and set a $21.00 target price on shares of Old Second Bancorp in a research note on Thursday, January 23rd. Raymond James raised shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, DA Davidson set a $18.00 price target on shares of Old Second Bancorp in a research report on Thursday, October 17th.

Old Second Bancorp Trading Up 1.2 %

The company has a market capitalization of $869.42 million, a PE ratio of 10.37 and a beta of 1.07. The company has a fifty day simple moving average of $18.24 and a 200-day simple moving average of $17.16. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. Analysts predict that Old Second Bancorp, Inc. will post 1.87 EPS for the current year.

Old Second Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 31st will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.24 dividend on an annualized basis and a yield of 1.24%. Old Second Bancorp’s payout ratio is currently 12.83%.

Insider Buying and Selling at Old Second Bancorp

In other news, Director Rocks Patti Temple bought 5,625 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $17.79 per share, for a total transaction of $100,068.75. Following the acquisition, the director now directly owns 18,679 shares of the company’s stock, valued at $332,299.41. The trade was a 43.09 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Old Second Bancorp

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Old Second Bancorp by 16.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider’s stock worth $17,174,000 after purchasing an additional 153,187 shares during the last quarter. State Street Corp lifted its position in shares of Old Second Bancorp by 6.5% during the 3rd quarter. State Street Corp now owns 1,264,359 shares of the financial services provider’s stock worth $19,711,000 after buying an additional 77,143 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Old Second Bancorp by 25.8% during the third quarter. Jane Street Group LLC now owns 62,398 shares of the financial services provider’s stock worth $973,000 after purchasing an additional 12,785 shares during the last quarter. Barclays PLC grew its stake in Old Second Bancorp by 81.3% during the 3rd quarter. Barclays PLC now owns 116,582 shares of the financial services provider’s stock worth $1,817,000 after buying an additional 52,277 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Old Second Bancorp by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,029,485 shares of the financial services provider’s stock valued at $16,053,000 after acquiring an additional 22,747 shares during the period. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.