Old Second Bancorp (NASDAQ:OSBC) Director Hugh Mclean Sells 25,000 Shares of Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) Director Hugh 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 transaction, the director directly owned 135,351 shares in the company, valued at $3,469,046.13. This trade represents a 15.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Old Second Bancorp Trading Down 0.7%

OSBC stock traded down $0.19 during midday trading on Tuesday, reaching $25.53. The stock had a trading volume of 442,029 shares, compared to its average volume of 397,816. The business has a fifty day simple moving average of $24.64 and a two-hundred day simple moving average of $22.19. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 14.67 and a beta of 0.70. Old Second Bancorp, Inc. has a twelve month low of $16.65 and a twelve month high of $26.06.

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

Old Second Bancorp Dividend Announcement

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

Institutional Investors Weigh In On Old Second Bancorp

A number of hedge funds have recently modified their holdings of OSBC. BlackRock Inc. acquired a new position in shares of Old Second Bancorp in the 2nd quarter valued at approximately $100,245,000. MSH Capital Advisors LLC acquired a new stake in Old Second Bancorp during the 2nd quarter worth approximately $1,978,000. Ieq Capital LLC acquired a new stake in Old Second Bancorp during the 2nd quarter worth approximately $1,173,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Old Second Bancorp during the first quarter worth $1,060,000. Finally, UBS Group AG increased its holdings in Old Second Bancorp by 295.2% during the 4th quarter. UBS Group AG now owns 177,102 shares of the financial services provider’s stock worth $3,453,000 after purchasing an additional 132,290 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. DA Davidson raised their target price on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Raymond James Financial assumed coverage on Old Second Bancorp in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. 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. 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. Five investment analysts have rated the stock with a Buy rating and two have given 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 a consensus target price of $25.40.

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.