Old Second Bancorp (NASDAQ:OSBC) Insider Sells $612,720.00 in Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) insider Darin Patrick Campbell sold 24,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $25.53, for a total transaction of $612,720.00. Following the transaction, the insider owned 250,589 shares in the company, valued at $6,397,537.17. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Old Second Bancorp Price Performance

Shares of OSBC stock traded up $0.15 during midday trading on Thursday, reaching $25.68. 476,096 shares of the company traded hands, compared to its average volume of 397,370. The firm’s 50 day simple moving average is $24.49 and its two-hundred day simple moving average is $22.08. Old Second Bancorp, Inc. has a 1-year low of $16.65 and a 1-year high of $26.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $1.31 billion, a PE ratio of 14.76 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. On average, equities research analysts expect that Old Second Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Zacks Research cut shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday. Raymond James Financial began coverage on shares of Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 target price for the company. DA Davidson upped their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.40.

Institutional Investors Weigh In On Old Second Bancorp

Hedge funds have recently modified their holdings of the company. Harbour Investments Inc. acquired a new position in shares of Old Second Bancorp in the fourth quarter valued at approximately $26,000. Rockefeller Capital Management L.P. acquired a new stake in Old Second Bancorp during the fourth quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its position in Old Second Bancorp by 458.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,215 shares during the last quarter. Parkside Financial Bank & Trust purchased a new stake in Old Second Bancorp in the 4th quarter worth approximately $45,000. Finally, Clearstead Advisors LLC grew its stake in Old Second Bancorp by 793.8% in 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 period. 67.76% of the stock is owned by institutional investors and hedge funds.

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.