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

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $22.54 and last traded at $22.4340, with a volume of 14181 shares changing hands. The stock had previously closed at $22.22.

Analysts Set New Price Targets

Several analysts have commented on OSBC shares. Stephens initiated coverage on Old Second Bancorp in a report on Friday, March 27th. They issued an “overweight” rating and a $23.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. Finally, Piper Sandler cut their price target on shares of Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Old Second Bancorp Stock Performance

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a 50-day simple moving average of $21.12 and a 200-day simple moving average of $20.39. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 13.31 and a beta of 0.71.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). The firm had revenue of $93.77 million during the quarter, compared to analyst estimates of $94.80 million. Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%. On average, analysts anticipate that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Friday, May 1st were paid a dividend of $0.07 per share. The ex-dividend date was Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 1.3%. Old Second Bancorp’s dividend payout ratio is 16.67%.

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors have recently made changes to their positions in the stock. Boston Partners bought a new stake in shares of Old Second Bancorp in the 4th quarter worth approximately $15,994,000. Wellington Management Group LLP lifted its stake in Old Second Bancorp by 521.2% in the fourth quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock valued at $18,909,000 after buying an additional 813,600 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Old Second Bancorp by 74.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after acquiring an additional 630,265 shares during the period. Vanguard Group Inc. grew its position in shares of Old Second Bancorp by 20.4% during the third quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock worth $56,522,000 after acquiring an additional 553,169 shares during the last quarter. Finally, River Street Advisors LLC increased its holdings in shares of Old Second Bancorp by 104.0% in the 1st quarter. River Street Advisors LLC now owns 746,660 shares of the financial services provider’s stock worth $15,053,000 after acquiring an additional 380,589 shares during the period. 67.76% of the stock is owned by institutional investors.

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.