Old Second Bancorp (NASDAQ:OSBC) Reaches New 12-Month High After Better-Than-Expected Earnings

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s stock price hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $21.15 and last traded at $21.1680, with a volume of 86026 shares trading hands. The stock had previously closed at $20.37.

The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Old Second Bancorp had a return on equity of 13.36% and a net margin of 20.00%.The business had revenue of $95.21 million for the quarter, compared to the consensus estimate of $82.49 million.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Friday, January 30th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, January 30th. Old Second Bancorp’s dividend payout ratio (DPR) is presently 18.54%.

Analysts Set New Price Targets

OSBC has been the subject of several research reports. Keefe, Bruyette & Woods raised their target price on Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a 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. According to data from MarketBeat, Old Second Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $21.63.

Insider Activity

In other news, insider Darin Patrick Campbell sold 31,159 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $17.89, for a total value of $557,434.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors have recently bought and sold shares of OSBC. EverSource Wealth Advisors LLC grew its holdings in shares of Old Second Bancorp by 458.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,215 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Old Second Bancorp in the third quarter worth about $30,000. Mather Group LLC. acquired a new position in shares of Old Second Bancorp during the third quarter worth approximately $67,000. Nisa Investment Advisors LLC grew its stake in shares of Old Second Bancorp by 12.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 540 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Old Second Bancorp during the first quarter valued at approximately $88,000. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Trading Down 1.0%

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 business’s fifty day moving average is $19.76 and its two-hundred day moving average is $18.57. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 13.04 and a beta of 0.82.

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.