Old Second Bancorp (NASDAQ:OSBC) Hits New 52-Week High – Time to Buy?

Old Second Bancorp, Inc. (NASDAQ:OSBC) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.75 and last traded at $22.7640, with a volume of 17058 shares traded. The stock had previously closed at $22.57.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Stephens assumed coverage on shares of Old Second Bancorp in a research note on Friday, March 27th. They issued an “overweight” rating and a $23.00 price objective on the stock. Piper Sandler cut their price objective 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Old Second Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Old Second Bancorp Trading Up 0.6%

The company has a market cap of $1.18 billion, a price-to-earnings ratio of 13.70 and a beta of 0.71. The company’s 50 day moving average price is $21.35 and its 200 day moving average price is $20.61. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90.

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

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Friday, May 1st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, May 1st. Old Second Bancorp’s payout ratio is 16.67%.

Institutional Trading of Old Second Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Harbour Investments Inc. acquired a new position in Old Second Bancorp in the 4th quarter valued at $26,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Old Second Bancorp in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC lifted its position in shares of 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 worth $26,000 after purchasing an additional 1,215 shares during the last quarter. Parkside Financial Bank & Trust bought a new stake in Old Second Bancorp during the 4th quarter valued at approximately $45,000. Finally, Clearstead Advisors LLC grew its holdings in 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 buying an additional 2,159 shares during the last quarter. 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.