Old Second Bancorp (NASDAQ:OSBC) Hits New 12-Month High – Here’s Why

by · The Markets Daily

Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $18.76 and last traded at $18.76, with a volume of 10577 shares traded. The stock had previously closed at $18.56.

Analyst Ratings Changes

A number of analysts have recently issued reports on OSBC shares. DA Davidson set a $18.00 target price on Old Second Bancorp in a report on Thursday, October 17th. Piper Sandler boosted their price objective on Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Raymond James downgraded Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $19.00 to $18.00 in a report on Tuesday, September 17th.

Get Our Latest Report on Old Second Bancorp

Old Second Bancorp Price Performance

The business has a fifty day moving average of $16.38 and a 200 day moving average of $15.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $831.07 million, a PE ratio of 10.02 and a beta of 1.06.

Old Second Bancorp (NASDAQ:OSBC – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $71.16 million during the quarter, compared to the consensus estimate of $70.95 million. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. Sell-side analysts anticipate that Old Second Bancorp, Inc. will post 1.95 earnings per share for the current year.

Old Second Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.30%. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, October 25th. Old Second Bancorp’s dividend payout ratio (DPR) is 12.97%.

Institutional Trading of Old Second Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of OSBC. Davis Asset Management L.P. acquired a new stake in shares of Old Second Bancorp during the 2nd quarter valued at approximately $8,623,000. Assenagon Asset Management S.A. lifted its position in shares of Old Second Bancorp by 180.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 443,527 shares of the financial services provider’s stock worth $6,915,000 after buying an additional 285,314 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Old Second Bancorp by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock valued at $25,188,000 after buying an additional 138,253 shares during the period. American Century Companies Inc. boosted its holdings in shares of Old Second Bancorp by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock valued at $11,851,000 after buying an additional 131,623 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Old Second Bancorp during the 3rd quarter valued at about $1,962,000. Institutional investors and hedge funds own 67.76% of the company’s stock.

About Old Second Bancorp

(Get Free Report)

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.

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