Old Second Bancorp (NASDAQ:OSBC) Sets New 1-Year High – Should You Buy?

Old Second Bancorp, Inc. (NASDAQ:OSBC) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $21.15 and last traded at $21.1680, with a volume of 86026 shares trading hands. The stock had previously closed at $20.37.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OSBC shares. Wall Street Zen upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Keefe, Bruyette & Woods boosted their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.63.

Old Second Bancorp Stock Up 4.0%

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.12 billion, a P/E ratio of 14.03 and a beta of 0.82. The firm’s fifty day moving average is $19.64 and its 200-day moving average is $18.53.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $95.88 million for the quarter, compared to analyst estimates of $80.45 million. Old Second Bancorp had a return on equity of 12.34% and a net margin of 18.89%. As a group, equities research analysts predict that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.

Insider Transactions at Old Second Bancorp

In other Old Second Bancorp news, insider Darin Patrick Campbell sold 31,159 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $17.89, for a total transaction of $557,434.51. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Old Second Bancorp

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in shares of Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after purchasing an additional 630,265 shares in the last quarter. Vanguard Group Inc. boosted its position in Old Second Bancorp by 20.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock valued at $56,522,000 after buying an additional 553,169 shares during the last quarter. Kennedy Capital Management LLC increased its stake in shares of Old Second Bancorp by 93.3% in the 2nd quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider’s stock valued at $17,687,000 after buying an additional 481,302 shares during the period. River Street Advisors LLC bought a new stake in shares of Old Second Bancorp during the third quarter worth $6,637,000. Finally, Davis Asset Management L.P. lifted its stake in shares of Old Second Bancorp by 25.9% during the second quarter. Davis Asset Management L.P. now owns 1,384,502 shares of the financial services provider’s stock valued at $24,561,000 after acquiring an additional 284,502 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

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.