Old Second Bancorp (NASDAQ:OSBC) Reaches New 52-Week High – What’s Next?

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $26.04 and last traded at $25.79, with a volume of 551603 shares trading hands. The stock had previously closed at $25.78.

Analysts Set New Price Targets

Several equities analysts have recently commented on OSBC shares. Piper Sandler reaffirmed 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. Raymond James Financial initiated coverage on Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. DA Davidson upped their price target on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Zacks Research upgraded Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Old Second Bancorp presently has an average rating of “Buy” and an average price target of $25.40.

Old Second Bancorp Stock Up 0.0%

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 firm has a market capitalization of $1.33 billion, a P/E ratio of 14.82 and a beta of 0.70. The company’s fifty day simple moving average is $22.95 and its 200 day simple moving average is $21.35.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $96.59 million during the quarter, compared to analysts’ expectations of $94.88 million. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. Research analysts expect that Old Second Bancorp, Inc. will post 2.2 EPS for the current year.

Old Second Bancorp Dividend Announcement

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

Institutional Trading of Old Second Bancorp

Several large investors have recently bought and sold shares of OSBC. Vanguard Group Inc. grew its holdings in shares of Old Second Bancorp by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider’s stock worth $63,929,000 after acquiring an additional 8,395 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Old Second Bancorp by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider’s stock valued at $48,159,000 after purchasing an additional 127,988 shares during the period. FJ Capital Management LLC lifted its stake in shares of Old Second Bancorp by 4.5% in the 3rd quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock valued at $33,186,000 after purchasing an additional 82,601 shares during the period. Davis Asset Management L.P. boosted its position in shares of Old Second Bancorp by 16.4% during the fourth quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider’s stock valued at $34,038,000 after purchasing an additional 245,523 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Old Second Bancorp by 12.6% during the fourth quarter. State Street Corp now owns 1,539,419 shares of the financial services provider’s stock valued at $30,019,000 after purchasing an additional 171,941 shares in the last quarter. 67.76% of the stock is owned by institutional investors.

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.