Old Second Bancorp (NASDAQ:OSBC) Sets New 1-Year High – Still a Buy?

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $21.09 and last traded at $21.04, with a volume of 123693 shares. The stock had previously closed at $20.46.

Wall Street Analysts Forecast Growth

OSBC has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, Wall Street Zen upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.63.

Old Second Bancorp Price Performance

The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.88 and a beta of 0.82. 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 company has a 50-day simple moving average of $19.45 and a two-hundred day simple moving average of $18.47.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. Old Second Bancorp had a net margin of 18.89% and a return on equity of 12.34%. The firm had revenue of $95.88 million during the quarter, compared to analyst estimates of $80.45 million. On average, equities research analysts predict that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Friday, October 31st were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, October 31st. Old Second Bancorp’s payout ratio is presently 18.54%.

Insiders Place Their Bets

In other news, insider Darin Patrick Campbell sold 31,159 shares of Old Second Bancorp stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $17.89, for a total value of $557,434.51. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Old Second Bancorp

Several large investors have recently added to or reduced their stakes in OSBC. EverSource Wealth Advisors LLC boosted its position in shares of Old Second Bancorp by 458.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,215 shares during the period. State of Alaska Department of Revenue purchased a new position in Old Second Bancorp during the 3rd quarter valued at about $30,000. Mather Group LLC. acquired a new position in shares of Old Second Bancorp in the 3rd quarter valued at about $67,000. Strs Ohio purchased a new stake in shares of Old Second Bancorp in the first quarter worth approximately $88,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Old Second Bancorp by 446.9% during the second quarter. Tower Research Capital LLC TRC now owns 6,306 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 5,153 shares during the period. 67.76% of the stock is owned by institutional investors and hedge funds.

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.