Insider Selling: Old Second Bancorp, Inc. (NASDAQ:OSBC) Vice Chairman Sells 21,002 Shares of Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) Vice Chairman Gary S. Collins sold 21,002 shares of Old Second Bancorp stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $14.23, for a total value of $298,858.46. Following the transaction, the insider now owns 46,624 shares in the company, valued at approximately $663,459.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Old Second Bancorp Stock Up 0.3 %

Old Second Bancorp stock opened at $14.40 on Friday. The firm has a market capitalization of $645.78 million, a P/E ratio of 7.29 and a beta of 1.08. The stock’s fifty day simple moving average is $13.71 and its 200-day simple moving average is $14.23. Old Second Bancorp, Inc. has a twelve month low of $11.11 and a twelve month high of $16.76. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%. The business had revenue of $83.83 million during the quarter, compared to analysts’ expectations of $69.50 million. As a group, equities analysts expect that Old Second Bancorp, Inc. will post 1.91 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Friday, April 26th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Thursday, April 25th. Old Second Bancorp’s payout ratio is currently 10.15%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OSBC shares. Raymond James raised shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a research report on Thursday, April 4th. Stephens reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Old Second Bancorp in a research note on Friday, April 19th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OSBC. Assenagon Asset Management S.A. increased its position in Old Second Bancorp by 476.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 157,496 shares of the financial services provider’s stock valued at $2,432,000 after acquiring an additional 130,158 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of Old Second Bancorp in the third quarter valued at about $1,564,000. Great Lakes Advisors LLC increased its stake in shares of Old Second Bancorp by 148.5% during the third quarter. Great Lakes Advisors LLC now owns 172,342 shares of the financial services provider’s stock worth $2,346,000 after acquiring an additional 103,002 shares during the period. Swiss National Bank boosted its holdings in Old Second Bancorp by 0.9% in the 3rd quarter. Swiss National Bank now owns 98,100 shares of the financial services provider’s stock valued at $1,335,000 after purchasing an additional 900 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Old Second Bancorp by 14.6% during the third quarter. American Century Companies Inc. now owns 447,267 shares of the financial services provider’s stock worth $6,087,000 after acquiring an additional 57,092 shares during the period. Hedge funds and other institutional investors own 67.76% of the company’s stock.

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.