James Eccher Sells 19,313 Shares of Old Second Bancorp (NASDAQ:OSBC) Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) CEO James Eccher sold 19,313 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $25.61, for a total value of $494,605.93. Following the completion of the transaction, the chief executive officer owned 303,399 shares in the company, valued at approximately $7,770,048.39. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

James Eccher also recently made the following trade(s):

• On Tuesday, August 11th, James Eccher sold 55,687 shares of Old Second Bancorp stock. The shares were sold at an average price of $25.46, for a total transaction of $1,417,791.02.

Old Second Bancorp Stock Performance

Shares of OSBC stock opened at $25.91 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $23.66 and a two-hundred day simple moving average of $21.62. Old Second Bancorp, Inc. has a 12 month low of $16.65 and a 12 month high of $26.04. The firm has a market capitalization of $1.32 billion, a PE ratio of 14.89 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. Analysts forecast that Old Second Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Friday, July 31st were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.28 annualized dividend and a yield of 1.1%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 16.09%.

Hedge Funds Weigh In On Old Second Bancorp

Several hedge funds have recently modified their holdings of the company. Harbour Investments Inc. purchased a new position in shares of Old Second Bancorp in the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its position in shares of 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 acquiring an additional 1,215 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Old Second Bancorp during the fourth quarter worth $27,000. Parkside Financial Bank & Trust bought a new stake in Old Second Bancorp during the fourth quarter worth $45,000. Finally, Clearstead Advisors LLC boosted its position in Old Second Bancorp by 793.8% in the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 2,159 shares during the last quarter. Institutional investors own 67.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on OSBC shares. Piper Sandler reissued an “overweight” rating and set a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. DA Davidson raised their target price on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Raymond James Financial started coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 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, Zacks Research upgraded Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Old Second Bancorp presently has an average rating of “Buy” and a consensus price target of $25.40.

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.