Old Second Bancorp (NASDAQ:OSBC) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $24.97 and traded as high as $25.08. Old Second Bancorp shares last traded at $25.07, with a volume of 558,389 shares.

Analysts Set New Price Targets

OSBC has been the subject of a number of recent analyst reports. Raymond James Financial raised shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $27.00 to $30.00 in a research note on Tuesday, October 6th. Piper Sandler reduced their target price on shares of Old Second Bancorp from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Zacks Research lowered shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. DA Davidson lifted their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded Old Second Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Old Second Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $26.75.

Old Second Bancorp Stock Performance

The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 11.83 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. The firm has a fifty day simple moving average of $24.97 and a two-hundred day simple moving average of $22.52.

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 company had revenue of $97.12 million for the quarter, compared to analyst estimates of $98.22 million. Old Second Bancorp had a net margin of 24.50% and a return on equity of 12.69%. On average, analysts expect that Old Second Bancorp, Inc. will post 2.18 EPS for the current year.

Old Second Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 30th will be issued a $0.08 dividend. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, October 30th. Old Second Bancorp’s dividend payout ratio is 13.21%.

Insider Transactions at Old Second Bancorp

In related news, CEO James Eccher sold 19,313 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $25.61, for a total value of $494,605.93. Following the transaction, the chief executive officer directly owned 303,399 shares of the company’s stock, valued at $7,770,048.39. This represents a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hugh H. Mclean sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 135,351 shares in the company, valued at approximately $3,469,046.13. The trade was a 15.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 149,000 shares of company stock worth $3,809,117. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OSBC. BlackRock Inc. purchased a new position in shares of Old Second Bancorp during the second quarter worth $100,245,000. Dimensional Fund Advisors LP lifted its position in Old Second Bancorp by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider’s stock valued at $48,159,000 after purchasing an additional 127,988 shares during the period. Davis Asset Management L.P. purchased a new stake in Old Second Bancorp in the second quarter valued at $41,976,000. The Manufacturers Life Insurance Company purchased a new stake in Old Second Bancorp in the second quarter valued at $20,350,000. Finally, Congress Asset Management Co. boosted its holdings in Old Second Bancorp by 21.4% in the third quarter. Congress Asset Management Co. now owns 411,201 shares of the financial services provider’s stock valued at $10,070,000 after purchasing an additional 72,551 shares during the last quarter. 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 headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides banking and financial services to individuals, families, businesses and governmental entities.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and cash-management services. The bank also provides wealth management, trust and investment-related services through its financial services operations.

Founded in 1871, Old Second has a long history of serving communities in northern Illinois, including the Fox Valley and Chicago metropolitan area.