Old Second Bancorp (NASDAQ:OSBC) Sets New 12-Month High – Time to Buy?

Old Second Bancorp, Inc. (NASDAQ:OSBC) shares hit a new 52-week high on Tuesday . The company traded as high as $19.91 and last traded at $19.80, with a volume of 272837 shares changing hands. The stock had previously closed at $19.62.

Analysts Set New Price Targets

OSBC has been the subject of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Old Second Bancorp has a consensus rating of “Buy” and an average price target of $21.63.

Old Second Bancorp Price Performance

The company has a fifty day moving average price of $18.16 and a two-hundred day moving average price of $17.86. The firm has a market capitalization of $1.04 billion, a PE ratio of 13.11 and a beta of 0.82. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The company had revenue of $95.88 million for the quarter, compared to analyst estimates of $80.45 million. Old Second Bancorp had a return on equity of 12.34% and a net margin of 18.89%. Sell-side analysts forecast that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Friday, October 31st were given a $0.07 dividend. The ex-dividend date was Friday, October 31st. This represents a $0.28 annualized dividend and a yield of 1.4%. Old Second Bancorp’s dividend payout ratio is 18.54%.

Insider Transactions at Old Second Bancorp

In other Old Second Bancorp news, insider Darin Patrick Campbell sold 31,159 shares of Old Second Bancorp stock in a transaction 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 document filed with the SEC, which is available through this link. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in Old Second Bancorp by 74.3% in the 1st 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 stake in shares of Old Second Bancorp by 20.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock valued at $56,522,000 after purchasing an additional 553,169 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in shares of Old Second Bancorp by 93.3% in the second quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider’s stock valued at $17,687,000 after purchasing an additional 481,302 shares during the period. River Street Advisors LLC purchased a new stake in shares of Old Second Bancorp during the third quarter worth approximately $6,637,000. Finally, Nuveen LLC acquired a new stake in shares of Old Second Bancorp during the first quarter worth $5,593,000. 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.