Old Second Bancorp (NASDAQ:OSBC) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Old Second Bancorp (NASDAQ:OSBC) from an outperform rating to a strong-buy rating in a research report released on Tuesday morning, MarketBeat reports. Raymond James Financial currently has $30.00 target price on the financial services provider’s stock, up from their previous target price of $27.00.

Other equities analysts have also issued reports about the stock. DA Davidson increased their price objective on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. Piper Sandler restated an “overweight” rating and set a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. Finally, Zacks Research cut shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Old Second Bancorp has an average rating of “Moderate Buy” and an average target price of $26.20.

Old Second Bancorp Trading Up 0.8%

Shares of NASDAQ:OSBC opened at $24.86 on Tuesday. The business’s 50-day moving average is $25.26 and its 200 day moving average is $23.03. Old Second Bancorp has a 1 year low of $16.65 and a 1 year high of $26.06. The firm has a market capitalization of $1.26 billion, a P/E ratio of 14.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91.

Old Second Bancorp (NASDAQ:OSBC) last issued 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. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. On average, research analysts predict that Old Second Bancorp will post 2.22 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

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

Insider Buying and Selling

In other Old Second Bancorp news, Director Hugh H. Mclean sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $25.63, for a total transaction of $640,750.00. Following the completion of the transaction, the director directly owned 135,351 shares of the company’s stock, valued at approximately $3,469,046.13. This trade represents a 15.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Darin Campbell sold 24,000 shares of Old Second Bancorp stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $25.53, for a total transaction of $612,720.00. Following the sale, the insider owned 250,589 shares of the company’s stock, valued at approximately $6,397,537.17. The trade was a 8.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 149,000 shares of company stock valued at $3,809,117 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Old Second Bancorp

Several large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. purchased a new position in shares of Old Second Bancorp during the fourth quarter worth $27,000. Integrated Wealth Concepts LLC purchased a new stake in Old Second Bancorp in the second quarter valued at $44,000. Parallel Advisors LLC boosted its holdings in Old Second Bancorp by 181.3% in the first quarter. Parallel Advisors LLC now owns 2,622 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 1,690 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in Old Second Bancorp in the second quarter valued at $202,000. Finally, Amundi acquired a new stake in Old Second Bancorp during the 1st quarter worth about $276,000. 67.76% of the stock is owned by hedge funds and other institutional investors.

About Old Second Bancorp

Old Second Bancorp, Inc (NASDAQ: OSBC) is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides community banking services to individuals, families, businesses and institutions.

The bank offers a range of financial products and services, including commercial and residential real estate lending, business and consumer loans, checking and savings accounts, certificates of deposit, treasury management and online and mobile banking.