Old Second Bancorp (NASDAQ:OSBC) Shares Cross Above 200-Day Moving Average – What’s Next?

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.26 and traded as high as $21.76. Old Second Bancorp shares last traded at $21.56, with a volume of 226,814 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on OSBC. Stephens started coverage on Old Second Bancorp in a research note on Friday, March 27th. They set an “overweight” rating and a $23.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. Finally, Piper Sandler dropped their target price on Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.50.

Old Second Bancorp Stock Up 0.7%

The company has a 50-day moving average of $20.94 and a 200-day moving average of $20.26. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 12.83 and a beta of 0.71. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.03). The business had revenue of $93.77 million for the quarter, compared to analyst estimates of $94.80 million. Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.67%. On average, equities analysts predict that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Friday, May 1st were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. Old Second Bancorp’s dividend payout ratio is currently 16.67%.

Institutional Trading of Old Second Bancorp

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its holdings in Old Second Bancorp by 13.1% in the third quarter. American Century Companies Inc. now owns 1,387,891 shares of the financial services provider’s stock valued at $23,990,000 after purchasing an additional 160,429 shares during the period. Kennedy Capital Management LLC lifted its position in Old Second Bancorp by 9.7% during the third quarter. Kennedy Capital Management LLC now owns 1,093,318 shares of the financial services provider’s stock worth $18,898,000 after buying an additional 96,326 shares in the last quarter. Stieven Capital Advisors L.P. lifted its position in Old Second Bancorp by 8.5% during the third quarter. Stieven Capital Advisors L.P. now owns 778,028 shares of the financial services provider’s stock worth $13,448,000 after buying an additional 61,000 shares in the last quarter. Blair William & Co. IL lifted its position in Old Second Bancorp by 757.0% during the third quarter. Blair William & Co. IL now owns 154,436 shares of the financial services provider’s stock worth $2,669,000 after buying an additional 136,416 shares in the last quarter. Finally, EJF Capital LLC raised its position in Old Second Bancorp by 21.3% in the third quarter. EJF Capital LLC now owns 173,834 shares of the financial services provider’s stock valued at $3,005,000 after purchasing an additional 30,548 shares during the period. Hedge funds and other institutional investors own 67.76% of the company’s stock.

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.