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

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.62 and last traded at $23.5170, with a volume of 37585 shares trading hands. The stock had previously closed at $23.32.

Analyst Ratings Changes

A number of research firms have weighed in on OSBC. Stephens began coverage on Old Second Bancorp in a research note on Friday, March 27th. They issued an “overweight” rating and a $23.00 target price on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. Finally, Piper Sandler raised their price target on shares of Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Old Second Bancorp Stock Up 1.4%

The stock has a market cap of $1.22 billion, a PE ratio of 14.07 and a beta of 0.71. The business has a fifty day moving average of $21.45 and a 200-day moving average of $20.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $93.77 million for the quarter, compared to analysts’ expectations of $94.80 million. Equities research analysts anticipate that Old Second Bancorp, Inc. will post 2.16 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed 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 dividend yield of 1.2%. The ex-dividend date was Friday, May 1st. Old Second Bancorp’s payout ratio is presently 16.67%.

Institutional Trading of Old Second Bancorp

A number of hedge funds have recently added to or reduced their stakes in OSBC. Vanguard Group Inc. increased its position in 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 valued at $63,929,000 after purchasing an additional 8,395 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Old Second Bancorp by 5.7% during the first 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 in the last quarter. FJ Capital Management LLC increased its holdings in Old Second Bancorp by 4.5% during the third quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock valued at $33,186,000 after buying an additional 82,601 shares during the period. Davis Asset Management L.P. increased its holdings in 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 buying an additional 245,523 shares during the period. Finally, State Street Corp raised its stake in Old Second Bancorp by 12.6% in the fourth quarter. State Street Corp now owns 1,539,419 shares of the financial services provider’s stock worth $30,019,000 after buying an additional 171,941 shares in the last quarter. 67.76% of the stock is owned by hedge funds and other 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.