Old Second Bancorp (NASDAQ:OSBC) Reaches New 52-Week High – Should You Buy?

Old Second Bancorp, Inc. (NASDAQ:OSBC) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $25.67 and last traded at $25.29, with a volume of 539318 shares traded. The stock had previously closed at $25.22.

Wall Street Analysts Forecast Growth

Several research firms have commented on OSBC. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a research note on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. DA Davidson raised their price objective on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Raymond James Financial began coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.40.

Old Second Bancorp Trading Up 0.3%

The firm has a fifty day moving average of $22.60 and a 200-day moving average of $21.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 14.53 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%.The business had revenue of $96.59 million for the quarter, compared to the consensus estimate of $94.88 million. As a group, equities analysts predict that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Friday, July 31st will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, July 31st. Old Second Bancorp’s dividend payout ratio is presently 16.09%.

Institutional Investors Weigh In On Old Second Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of OSBC. Harbour Investments Inc. purchased a new position in shares of Old Second Bancorp during the 4th quarter valued at approximately $26,000. Rockefeller Capital Management L.P. acquired a new stake in Old Second Bancorp in the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its stake in Old Second Bancorp by 458.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,215 shares during the last quarter. Parkside Financial Bank & Trust acquired a new position in Old Second Bancorp during the 4th quarter worth $45,000. Finally, Clearstead Advisors LLC increased its position in shares of Old Second Bancorp by 793.8% in the 4th quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 2,159 shares during the last quarter. 67.76% of the stock is currently owned by hedge funds and other 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.