Old Second Bancorp (NASDAQ:OSBC) CEO James Eccher Sells 55,687 Shares

Old Second Bancorp, Inc. (NASDAQ:OSBC) CEO James Eccher sold 55,687 shares of Old Second Bancorp stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $25.46, for a total value of $1,417,791.02. Following the completion of the transaction, the chief executive officer directly owned 322,712 shares in the company, valued at approximately $8,216,247.52. This represents a 14.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Old Second Bancorp Stock Up 1.4%

OSBC opened at $25.80 on Thursday. Old Second Bancorp, Inc. has a 1-year low of $16.65 and a 1-year high of $26.04. 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 stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 14.83 and a beta of 0.70. The business has a 50 day moving average of $23.49 and a 200-day moving average of $21.55.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. As a group, sell-side analysts anticipate that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current year.

Old Second Bancorp Announces Dividend

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

Institutional Trading of Old Second Bancorp

Institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. acquired a new position in Old Second Bancorp in the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its holdings in Old Second Bancorp by 458.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,215 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Old Second Bancorp during the fourth quarter valued at approximately $27,000. Parkside Financial Bank & Trust bought a new stake in shares of Old Second Bancorp in the 4th quarter valued at approximately $45,000. Finally, Clearstead Advisors LLC grew its stake 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 valued at $47,000 after purchasing an additional 2,159 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OSBC has been the topic of a number of recent research reports. Zacks Research raised Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. 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 report on Friday, July 24th. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. Finally, Raymond James Financial initiated coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $25.40.

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.