Old Second Bancorp (NASDAQ:OSBC) Sets New 52-Week High – Should You Buy?

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) reached a new 52-week high on Friday . The company traded as high as $24.04 and last traded at $23.80, with a volume of 25972 shares traded. The stock had previously closed at $23.51.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Raymond James Financial initiated coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 target price for the company. Piper Sandler raised their price target on shares of 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 initiated coverage on shares of Old Second Bancorp in a report on Friday, March 27th. They set an “overweight” rating and a $23.00 price objective for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.20.

Old Second Bancorp Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a fifty day moving average of $22.28 and a two-hundred day moving average of $21.05. The stock has a market capitalization of $1.24 billion, a P/E ratio of 13.80 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $96.59 million for the quarter, compared to analysts’ expectations of $94.88 million. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. On average, analysts predict that Old Second Bancorp, Inc. will post 2.15 EPS for the current year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, July 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 16.67%.

Hedge Funds Weigh In On Old Second Bancorp

A number of large investors have recently bought and sold shares of OSBC. Los Angeles Capital Management LLC increased its position in shares of Old Second Bancorp by 1.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 493 shares during the period. Nisa Investment Advisors LLC raised its stake in Old Second Bancorp by 12.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 540 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Old Second Bancorp by 32.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 622 shares during the period. Russell Investments Group Ltd. lifted its position in Old Second Bancorp by 0.8% during the 4th quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock worth $2,186,000 after acquiring an additional 908 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 1,067 shares during the last quarter. 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.