Old Second Bancorp (NASDAQ:OSBC) Sees Large Volume Increase

Old Second Bancorp, Inc. (NASDAQ:OSBC) shares saw strong trading volume on Wednesday . 419,141 shares traded hands during trading, an increase of 99% from the previous session’s volume of 210,430 shares.The stock last traded at $16.77 and had previously closed at $16.57.

Analyst Ratings Changes

A number of analysts recently issued reports on OSBC shares. Piper Sandler lifted their target price on Old Second Bancorp from $18.00 to $19.50 and gave the company an “overweight” rating in a research report on Friday, July 19th. DA Davidson boosted their target price on shares of Old Second Bancorp from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $18.13.

Old Second Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a 50-day moving average price of $15.60 and a 200-day moving average price of $14.46. The company has a market capitalization of $751.17 million, a price-to-earnings ratio of 8.52 and a beta of 1.09.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Old Second Bancorp had a return on equity of 15.16% and a net margin of 25.62%. The company had revenue of $70.82 million for the quarter, compared to the consensus estimate of $70.03 million. As a group, analysts forecast that Old Second Bancorp, Inc. will post 1.91 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 26th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $0.20 dividend on an annualized basis and a yield of 1.19%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 10.15%.

Insider Buying and Selling at Old Second Bancorp

In other news, Director John Ladowicz sold 30,585 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $16.22, for a total transaction of $496,088.70. Following the completion of the sale, the director now owns 189,192 shares in the company, valued at $3,068,694.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in Old Second Bancorp during the second quarter worth approximately $33,000. Innealta Capital LLC acquired a new stake in shares of Old Second Bancorp during the 2nd quarter worth $49,000. Ameritas Investment Partners Inc. increased its position in shares of Old Second Bancorp by 19.8% in the first quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 853 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Old Second Bancorp in the first quarter valued at about $90,000. Finally, PL Capital Advisors LLC bought a new stake in Old Second Bancorp during the first quarter worth about $111,000. 67.76% of the stock is owned by institutional investors.

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.