James Eccher Sells 55,687 Shares of Old Second Bancorp (NASDAQ:OSBC) Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) CEO James Eccher sold 55,687 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $25.46, for a total transaction of $1,417,791.02. Following the transaction, the chief executive officer owned 322,712 shares in the company, valued at $8,216,247.52. This represents a 14.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Old Second Bancorp Stock Performance

Shares of OSBC stock traded up $0.35 during trading hours on Wednesday, reaching $25.80. The company had a trading volume of 301,892 shares, compared to its average volume of 397,963. The business has a fifty day moving average price of $23.38 and a 200-day moving average price of $21.51. Old Second Bancorp, Inc. has a one year low of $16.65 and a one year high of $26.04. The firm has a market cap of $1.31 billion, a PE ratio of 14.83 and a beta of 0.70. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. Sell-side analysts predict that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 31st were paid a dividend of $0.07 per share. The ex-dividend date was Friday, July 31st. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. Old Second Bancorp’s payout ratio is currently 16.09%.

Institutional Investors Weigh In On Old Second Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Old Second Bancorp during the second quarter worth $100,245,000. Vanguard Group Inc. increased its holdings in Old Second Bancorp by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider’s stock valued at $63,929,000 after acquiring an additional 8,395 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Old Second Bancorp by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider’s stock worth $48,159,000 after purchasing an additional 127,988 shares in the last quarter. FJ Capital Management LLC lifted its stake in Old Second Bancorp by 4.5% in the 3rd quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock worth $33,186,000 after purchasing an additional 82,601 shares in the last quarter. Finally, Davis Asset Management L.P. boosted its holdings in shares of Old Second Bancorp by 16.4% during the 4th quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider’s stock valued at $34,038,000 after purchasing an additional 245,523 shares during the last quarter. Institutional investors own 67.76% of the company’s stock.

Analyst Ratings Changes

OSBC has been the topic of several analyst reports. Zacks Research upgraded shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. DA Davidson increased their price target on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Piper Sandler reissued an “overweight” rating and set a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. Raymond James Financial began coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $25.40.

About Old Second Bancorp

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.