Old Second Bancorp (NASDAQ:OSBC) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Old Second Bancorp, Inc. (NASDAQ:OSBC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.61 and traded as high as $20.05. Old Second Bancorp shares last traded at $19.84, with a volume of 375,959 shares.

Analysts Set New Price Targets

OSBC has been the subject of several analyst reports. DA Davidson upped their target price on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Wall Street Zen upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Keefe, Bruyette & Woods upped their price objective on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.63.

Old Second Bancorp Trading Down 0.7%

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $19.97 and its two-hundred day moving average is $18.61. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 12.17 and a beta of 0.82.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Old Second Bancorp had a net margin of 20.00% and a return on equity of 13.36%. The business had revenue of $95.21 million during the quarter, compared to analyst estimates of $82.49 million. Equities analysts anticipate that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Friday, January 30th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $0.28 annualized dividend and a yield of 1.4%. Old Second Bancorp’s payout ratio is presently 17.18%.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds have recently made changes to their positions in the business. State of New Jersey Common Pension Fund D grew its holdings in shares of Old Second Bancorp by 7.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 129,379 shares of the financial services provider’s stock worth $2,523,000 after acquiring an additional 8,454 shares during the last quarter. UBS Group AG boosted its position in shares of Old Second Bancorp by 295.2% in the 4th quarter. UBS Group AG now owns 177,102 shares of the financial services provider’s stock valued at $3,453,000 after purchasing an additional 132,290 shares during the period. Vanguard Group Inc. increased its stake in Old Second Bancorp by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider’s stock worth $63,929,000 after purchasing an additional 8,395 shares in the last quarter. Arizona State Retirement System raised its holdings in Old Second Bancorp by 12.7% during the 4th quarter. Arizona State Retirement System now owns 13,945 shares of the financial services provider’s stock worth $272,000 after buying an additional 1,569 shares during the period. Finally, Lakewood Asset Management LLC lifted its stake in Old Second Bancorp by 7.1% during the fourth quarter. Lakewood Asset Management LLC now owns 21,360 shares of the financial services provider’s stock valued at $417,000 after buying an additional 1,416 shares in the last quarter. 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 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.