Old Second Bancorp (NASDAQ:OSBC) Sets New 12-Month High – Here’s What Happened

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $24.04 and last traded at $23.80, with a volume of 25972 shares. The stock had previously closed at $23.51.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OSBC shares. Piper Sandler upped their price target on Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. Stephens began coverage on shares of Old Second Bancorp in a research note on Friday, March 27th. They set an “overweight” rating and a $23.00 target price on the stock. Finally, Raymond James Financial started coverage on shares of Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.20.

Old Second Bancorp Stock Up 2.3%

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.24 billion, a P/E ratio of 13.80 and a beta of 0.70. The company has a fifty day moving average price of $22.28 and a 200-day moving average price of $21.05.

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, hitting the consensus estimate of $0.55. The company had revenue of $96.59 million for the quarter, compared to analysts’ expectations of $94.88 million. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. As a group, research analysts forecast that Old Second Bancorp, Inc. will post 2.15 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, July 31st. Old Second Bancorp’s payout ratio is presently 16.67%.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. bought a new stake in Old Second Bancorp in the fourth quarter worth about $26,000. Rockefeller Capital Management L.P. bought a new position in shares of Old Second Bancorp during the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised 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 worth $26,000 after buying an additional 1,215 shares during the period. Parkside Financial Bank & Trust purchased a new stake in shares of Old Second Bancorp in the fourth quarter worth approximately $45,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Old Second Bancorp by 793.8% during the 4th quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 2,159 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

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.