Old Second Bancorp, Inc. (NASDAQ:OSBC) Stock Has Consensus Price Target of $26.75

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $26.75.

Several equities analysts recently weighed in on OSBC shares. DA Davidson boosted their price objective on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Raymond James Financial raised Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $27.00 to $30.00 in a research report on Tuesday, October 6th. Zacks Research lowered Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Piper Sandler reduced their price objective on Old Second Bancorp from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, October 26th. Finally, Weiss Ratings upgraded shares of Old Second Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday.

Insider Buying and Selling at Old Second Bancorp

In related news, Director Hugh H. Mclean sold 25,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $25.63, for a total value of $640,750.00. Following the completion of the sale, the director owned 135,351 shares in the company, valued at approximately $3,469,046.13. This trade represents a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darin Campbell sold 24,000 shares of Old Second Bancorp stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $25.53, for a total value of $612,720.00. Following the sale, the insider directly owned 250,589 shares in the company, valued at approximately $6,397,537.17. This trade represents a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 74,000 shares of company stock worth $1,896,720 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Old Second Bancorp

Hedge funds have recently modified their holdings of the company. Banc Funds Co. LLC increased its stake in Old Second Bancorp by 0.5% in the third quarter. Banc Funds Co. LLC now owns 1,039,143 shares of the financial services provider’s stock valued at $25,449,000 after acquiring an additional 5,000 shares during the period. Boston Partners lifted its stake in Old Second Bancorp by 3.8% during the third quarter. Boston Partners now owns 1,468,512 shares of the financial services provider’s stock worth $36,095,000 after purchasing an additional 53,347 shares during the period. Russell Investments Group Ltd. lifted its stake in Old Second Bancorp by 0.8% during the third quarter. Russell Investments Group Ltd. now owns 136,118 shares of the financial services provider’s stock worth $3,334,000 after purchasing an additional 1,108 shares during the period. Pictet Asset Management Holding SA acquired a new stake in Old Second Bancorp during the third quarter valued at approximately $200,000. Finally, Kestra Advisory Services LLC boosted its holdings in Old Second Bancorp by 62.4% during the third quarter. Kestra Advisory Services LLC now owns 24,297 shares of the financial services provider’s stock valued at $595,000 after purchasing an additional 9,339 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Trading Up 0.0%

Shares of OSBC stock opened at $25.11 on Tuesday. Old Second Bancorp has a 12 month low of $17.61 and a 12 month high of $26.06. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $24.91 and its two-hundred day moving average is $22.69. The company has a market cap of $1.24 billion, a PE ratio of 11.57 and a beta of 0.78.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). The firm had revenue of $97.12 million for the quarter, compared to the consensus estimate of $98.22 million. Old Second Bancorp had a return on equity of 12.76% and a net margin of 24.50%. Equities analysts predict that Old Second Bancorp will post 2.18 EPS for the current year.

Old Second Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 9th. Shareholders of record on Friday, October 30th were issued a $0.08 dividend. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, October 30th. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. Old Second Bancorp’s payout ratio is currently 15.09%.

Old Second Bancorp Company Profile

Old Second Bancorp is a bank holding company headquartered in Aurora, Illinois. Its principal subsidiary, Old Second National Bank, provides commercial and retail banking services to individuals, businesses and organizations. The bank offers deposit accounts, business and consumer lending, mortgage services, cash management and other banking products. It also provides wealth management and trust services. Founded in 1871, Old Second National Bank serves communities in the Chicago metropolitan area and northern Illinois, including the Fox Valley region.