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

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $22.54 and last traded at $22.4340, with a volume of 14181 shares trading hands. The stock had previously closed at $22.22.

Analyst Upgrades and Downgrades

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

Old Second Bancorp Price Performance

The company has a 50 day moving average of $21.12 and a two-hundred day moving average of $20.39. The firm has a market cap of $1.15 billion, a P/E ratio of 13.31 and a beta of 0.71. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results 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). Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.67%. The business had revenue of $93.77 million during the quarter, compared to analyst estimates of $94.80 million. Sell-side analysts expect that Old Second Bancorp, Inc. will post 2.16 EPS for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Friday, May 1st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 1.3%. Old Second Bancorp’s dividend payout ratio is currently 16.67%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Harbour Investments Inc. acquired a new stake in shares of Old Second Bancorp during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Old Second Bancorp by 458.5% in the 2nd 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. Rockefeller Capital Management L.P. acquired a new stake in shares of Old Second Bancorp during the fourth quarter worth $27,000. Parkside Financial Bank & Trust acquired a new stake in shares of Old Second Bancorp during the fourth quarter worth $45,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of Old Second Bancorp by 793.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 2,159 shares during the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

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.