Old Second Bancorp (NASDAQ:OSBC) Shares Break Above 50-Day Moving Average – Should You Sell?

Old Second Bancorp, Inc. (NASDAQ:OSBC) shares passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $24.97 and traded as high as $25.08. Old Second Bancorp shares last traded at $25.07, with a volume of 558,389 shares.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings upgraded Old Second Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, October 21st. DA Davidson boosted their price target on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Piper Sandler lowered their price objective on Old Second Bancorp from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Zacks Research cut shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Finally, Raymond James Financial raised shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $27.00 to $30.00 in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.75.

Old Second Bancorp Stock Performance

The business’s 50-day simple moving average is $24.97 and its two-hundred day simple moving average is $22.52. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 11.83 and a beta of 0.77. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, October 21st. The financial services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Old Second Bancorp had a net margin of 24.50% and a return on equity of 12.69%. The business had revenue of $97.12 million for the quarter, compared to analyst estimates of $98.22 million. As a group, sell-side analysts expect that Old Second Bancorp, Inc. will post 2.18 earnings per share for the current fiscal year.

Old Second Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 30th will be given a dividend of $0.08 per share. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, October 30th. Old Second Bancorp’s dividend payout ratio (DPR) is currently 13.21%.

Insiders Place Their Bets

In other news, Director Hugh H. Mclean sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $25.73, for a total value of $643,250.00. Following the completion of the sale, the director directly owned 135,351 shares in the company, valued at $3,482,581.23. The trade was a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Darin Campbell sold 24,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $25.53, for a total value of $612,720.00. Following the transaction, the insider directly owned 250,589 shares of the company’s stock, valued at approximately $6,397,537.17. The trade was a 8.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 149,000 shares of company stock worth $3,809,117. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Second Bancorp

A number of institutional investors have recently added to or reduced their stakes in OSBC. Lakewood Asset Management LLC increased its holdings in Old Second Bancorp by 5.4% in the 3rd quarter. Lakewood Asset Management LLC now owns 24,185 shares of the financial services provider’s stock worth $592,000 after acquiring an additional 1,230 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Old Second Bancorp during the fourth quarter worth $27,000. Parallel Advisors LLC lifted its holdings in Old Second Bancorp by 181.3% during the first quarter. Parallel Advisors LLC now owns 2,622 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 1,690 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Old Second Bancorp during the second quarter valued at $44,000. Finally, USA Financial Formulas purchased a new position in Old Second Bancorp during the third quarter valued at $73,000. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides banking and financial services to individuals, families, businesses and governmental entities.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and cash-management services. The bank also provides wealth management, trust and investment-related services through its financial services operations.

Founded in 1871, Old Second has a long history of serving communities in northern Illinois, including the Fox Valley and Chicago metropolitan area.