Richard Gartelmann Jr Sells 2,000 Shares of Old Second Bancorp (NASDAQ:OSBC) Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) EVP Richard Gartelmann, Jr. sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $20.98, for a total transaction of $41,960.00. Following the transaction, the executive vice president owned 24,874 shares in the company, valued at $521,856.52. This represents a 7.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Old Second Bancorp Stock Down 1.3%

OSBC stock traded down $0.28 during midday trading on Thursday, hitting $20.50. The stock had a trading volume of 192,533 shares, compared to its average volume of 364,775. The business has a 50-day moving average of $20.07 and a two-hundred day moving average of $18.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 12.56 and a beta of 0.82. Old Second Bancorp, Inc. has a 52-week low of $14.14 and a 52-week high of $22.00.

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

Old Second Bancorp Dividend Announcement

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 given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, January 30th. Old Second Bancorp’s payout ratio is currently 17.18%.

Institutional Trading of Old Second Bancorp

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in Old Second Bancorp by 458.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,215 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Old Second Bancorp during the 3rd quarter worth $30,000. Mather Group LLC. acquired a new stake in Old Second Bancorp during the 3rd quarter worth $67,000. Danske Bank A S lifted its position in Old Second Bancorp by 1,266.7% in the fourth quarter. Danske Bank A S now owns 4,100 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Old Second Bancorp during the first quarter worth about $88,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Analyst Ratings Changes

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

About Old Second Bancorp

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.