Old Second Bancorp, Inc. (NASDAQ:OSBC) Stock Has Consensus Target Price of $26.75 According to Analysts

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $26.75.

Several equities research analysts recently weighed in on OSBC shares. Raymond James Financial raised shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $27.00 to $30.00 in a report on Tuesday, October 6th. DA Davidson raised their target price 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. Weiss Ratings upgraded shares of Old Second Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. Zacks Research lowered shares of Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Finally, Piper Sandler reduced their price target on shares of Old Second Bancorp from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, October 26th.

Insiders Place Their Bets

In other news, Director Hugh H. Mclean sold 25,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $25.73, for a total value of $643,250.00. Following the sale, the director owned 135,351 shares of the company’s stock, valued at approximately $3,482,581.23. The trade was a 15.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darin Campbell sold 24,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $25.53, for a total value of $612,720.00. Following the completion of the sale, the insider owned 250,589 shares of the company’s stock, valued at approximately $6,397,537.17. This trade represents a 8.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 74,000 shares of company stock valued at $1,896,720. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Old Second Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of OSBC. Legal & General Group Plc bought a new stake in shares of Old Second Bancorp during the 2nd quarter worth $946,000. BlackRock Inc. acquired a new position in shares of Old Second Bancorp in the 2nd quarter worth $100,245,000. Bank of America Corp DE acquired a new position in shares of Old Second Bancorp in the 2nd quarter worth $8,690,000. MSH Capital Advisors LLC acquired a new stake in shares of Old Second Bancorp during the second quarter worth $1,978,000. Finally, Deutsche Bank AG acquired a new stake in shares of Old Second Bancorp during the second quarter worth $1,190,000. 67.76% of the stock is currently owned by institutional investors.

Old Second Bancorp Stock Performance

OSBC traded down $0.01 during trading hours on Tuesday, hitting $25.10. The company’s stock had a trading volume of 479,445 shares, compared to its average volume of 610,473. Old Second Bancorp has a fifty-two week low of $17.61 and a fifty-two week high of $26.06. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.24 billion, a PE ratio of 11.84 and a beta of 0.78. The company has a 50-day simple moving average of $24.90 and a 200 day simple moving average of $22.72.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Old Second Bancorp had a return on equity of 12.76% and a net margin of 24.50%. The business had revenue of $97.12 million for the quarter, compared to analyst estimates of $98.22 million. As a group, sell-side analysts expect that Old Second Bancorp will post 2.18 EPS for the current year.

Old Second Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 9th. Shareholders of record on Friday, October 30th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, October 30th. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.07. Old Second Bancorp’s dividend payout ratio is 15.09%.

Old Second Bancorp Company Profile

Old Second Bancorp is a bank holding company headquartered in Aurora, Illinois. Its principal subsidiary, Old Second National Bank, provides commercial and retail banking services to individuals, businesses and organizations. The bank offers deposit accounts, business and consumer lending, mortgage services, cash management and other banking products. It also provides wealth management and trust services. Founded in 1871, Old Second National Bank serves communities in the Chicago metropolitan area and northern Illinois, including the Fox Valley region.