Old Second Bancorp (NASDAQ:OSBC) Hits New 52-Week High – Here’s What Happened

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

Analysts Set New Price Targets

Several analysts have issued reports on OSBC shares. Stephens reissued an “overweight” rating and issued a $21.00 price objective on shares of Old Second Bancorp in a research note on Thursday, January 23rd. Raymond James upgraded Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Piper Sandler upped their price objective 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. Finally, DA Davidson set a $18.00 target price on Old Second Bancorp in a research report on Thursday, October 17th.

Old Second Bancorp Stock Up 1.2 %

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $869.42 million, a P/E ratio of 10.37 and a beta of 1.07. The company’s 50 day moving average price is $18.24 and its two-hundred day moving average price is $17.16.

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

Old Second Bancorp Dividend Announcement

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

Insider Buying and Selling at Old Second Bancorp

In related news, Director Rocks Patti Temple acquired 5,625 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $17.79 per share, for a total transaction of $100,068.75. Following the purchase, the director now directly owns 18,679 shares of the company’s stock, valued at $332,299.41. This trade represents a 43.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new position in shares of Old Second Bancorp in the fourth quarter worth about $96,000. Quantbot Technologies LP raised its stake in shares of Old Second Bancorp by 134.0% during the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock valued at $98,000 after buying an additional 3,587 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Old Second Bancorp in the 3rd quarter valued at about $101,000. CWM LLC boosted its stake in shares of Old Second Bancorp by 36.3% in the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock worth $124,000 after buying an additional 2,123 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Old Second Bancorp during the third quarter worth about $158,000. 67.76% of the stock is currently owned by hedge funds and other 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.