Old Second Bancorp (NASDAQ:OSBC) Hits New 52-Week High – Still a Buy?

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s stock price reached a new 52-week high on Friday . The stock traded as high as $22.22 and last traded at $22.40, with a volume of 100150 shares traded. The stock had previously closed at $21.57.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Thursday, January 22nd. DA Davidson upped their target price on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Finally, Stephens initiated coverage on Old Second Bancorp in a report on Friday, March 27th. They issued an “overweight” rating and a $23.00 price target for the company. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.38.

Old Second Bancorp Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a fifty day moving average of $20.27 and a two-hundred day moving average of $19.50. The stock has a market capitalization of $1.14 billion, a P/E ratio of 13.49 and a beta of 0.74.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The firm had revenue of $95.20 million during the quarter, compared to the consensus estimate of $82.49 million. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%. On average, analysts predict that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Friday, January 30th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, January 30th. Old Second Bancorp’s dividend payout ratio is presently 17.18%.

Insiders Place Their Bets

In other news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of Old Second Bancorp stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $20.98, for a total value of $41,960.00. Following the transaction, the executive vice president directly owned 24,874 shares in the company, valued at approximately $521,856.52. This trade represents a 7.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Darin Patrick Campbell sold 35,000 shares of Old Second Bancorp stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total value of $732,900.00. Following the completion of the transaction, the insider owned 274,589 shares in the company, valued at $5,749,893.66. This represents a 11.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,091 shares of company stock worth $776,744 over the last quarter. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Old Second Bancorp

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Old Second Bancorp by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider’s stock valued at $63,929,000 after buying an additional 8,395 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Old Second Bancorp by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,260,874 shares of the financial services provider’s stock valued at $44,087,000 after buying an additional 55,990 shares during the last quarter. FJ Capital Management LLC grew its holdings in Old Second Bancorp by 4.5% in the third 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 during the last quarter. Davis Asset Management L.P. grew its holdings in Old Second Bancorp by 16.4% in the fourth quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider’s stock worth $34,038,000 after purchasing an additional 245,523 shares during the last quarter. Finally, State Street Corp grew its holdings in Old Second Bancorp by 12.6% in the fourth quarter. State Street Corp now owns 1,539,419 shares of the financial services provider’s stock worth $30,019,000 after purchasing an additional 171,941 shares during the last quarter. 67.76% of the stock is owned by hedge funds and other 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.