Hugh Mclean Sells 25,000 Shares of Old Second Bancorp (NASDAQ:OSBC) Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) Director Hugh Mclean sold 25,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $25.73, for a total value of $643,250.00. Following the completion of the transaction, the director directly owned 135,351 shares in the company, valued at $3,482,581.23. The trade was a 15.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Old Second Bancorp Price Performance

Old Second Bancorp stock opened at $25.72 on Friday. The firm has a market capitalization of $1.31 billion, a P/E ratio of 14.78 and a beta of 0.70. Old Second Bancorp, Inc. has a 1 year low of $16.65 and a 1 year high of $26.06. The business has a 50-day moving average of $24.59 and a 200-day moving average of $22.14. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results 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 12.79%. On average, equities analysts anticipate that Old Second Bancorp, Inc. will post 2.2 EPS for the current year.

Old Second Bancorp Announces Dividend

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

Analysts Set New Price Targets

OSBC has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. Zacks Research cut Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. 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 report on Friday, July 24th. Piper Sandler reaffirmed an “overweight” rating and set a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Finally, Raymond James Financial assumed coverage on Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Old Second Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $25.40.

Institutional Investors Weigh In On Old Second Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. bought a new position in Old Second Bancorp during the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Old Second Bancorp by 458.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,215 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Old Second Bancorp during the fourth quarter worth about $27,000. Parkside Financial Bank & Trust acquired a new position in shares of Old Second Bancorp during the fourth quarter worth about $45,000. Finally, Clearstead Advisors LLC grew its holdings in shares of Old Second Bancorp by 793.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock worth $47,000 after buying an additional 2,159 shares in the last quarter. 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.