Old Second Bancorp (NASDAQ:OSBC) Sees Large Volume Increase – Still a Buy?

Old Second Bancorp, Inc. (NASDAQ:OSBC) saw an uptick in trading volume on Wednesday . 498,422 shares were traded during trading, an increase of 119% from the previous session’s volume of 227,392 shares.The stock last traded at $16.92 and had previously closed at $16.69.

Analyst Upgrades and Downgrades

OSBC has been the subject of several research reports. DA Davidson set a $18.00 target price on Old Second Bancorp in a report on Thursday, October 17th. Raymond James cut Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th. Finally, Piper Sandler raised their target price on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th.

Old Second Bancorp Stock Performance

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $732.40 million, a price-to-earnings ratio of 8.88 and a beta of 1.06. The firm has a fifty day moving average of $16.23 and a 200-day moving average of $15.33.

Old Second Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, October 25th. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s dividend payout ratio is 12.97%.

Institutional Trading of Old Second Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Old Second Bancorp by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock valued at $33,548,000 after purchasing an additional 45,955 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Old Second Bancorp by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock valued at $25,188,000 after purchasing an additional 138,253 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Old Second Bancorp by 19.7% during the 2nd quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock worth $11,851,000 after buying an additional 131,623 shares during the last quarter. Davis Asset Management L.P. acquired a new stake in shares of Old Second Bancorp during the 2nd quarter worth $8,623,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Old Second Bancorp by 180.3% in the third quarter. Assenagon Asset Management S.A. now owns 443,527 shares of the financial services provider’s stock valued at $6,915,000 after acquiring an additional 285,314 shares during the last quarter. 67.76% of the stock is owned by institutional investors and hedge funds.

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.