Old Second Bancorp (NASDAQ:OSBC) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $20.26 and traded as high as $21.76. Old Second Bancorp shares last traded at $21.56, with a volume of 226,814 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OSBC. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Piper Sandler decreased their price target on shares of Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Finally, Stephens began coverage on shares of Old Second Bancorp in a research note on Friday, March 27th. They issued an “overweight” rating and a $23.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Old Second Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Old Second Bancorp Stock Performance

The firm has a market capitalization of $1.11 billion, a P/E ratio of 12.83 and a beta of 0.71. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The business’s 50 day simple moving average is $20.94 and its two-hundred day simple moving average is $20.26.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). The firm had revenue of $93.77 million for the quarter, compared to the consensus estimate of $94.80 million. Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.67%. Sell-side analysts anticipate that Old Second Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, May 1st. Old Second Bancorp’s dividend payout ratio (DPR) is currently 16.67%.

Institutional Trading of Old Second Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its stake in Old Second Bancorp by 1.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 493 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Old Second Bancorp by 12.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 540 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Old Second Bancorp by 32.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 622 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Old Second Bancorp by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock worth $2,186,000 after acquiring an additional 908 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Old Second Bancorp by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 1,067 shares during the period. 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.