Old Second Bancorp (NASDAQ:OSBC) Sets New 52-Week High – Should You Buy?

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s share price reached a new 52-week high on Thursday . The company traded as high as $19.37 and last traded at $19.20, with a volume of 6393 shares trading hands. The stock had previously closed at $19.16.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stephens reiterated an “overweight” rating and issued a $21.00 price objective on shares of Old Second Bancorp in a research report on Thursday, January 23rd. Raymond James raised shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. DA Davidson set a $18.00 price target on Old Second Bancorp in a research note on Thursday, October 17th. Finally, Piper Sandler lifted their price objective on Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a report on Friday, October 18th.

Old Second Bancorp Price Performance

The company has a 50-day moving average of $18.25 and a two-hundred day moving average of $17.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $860.67 million, a PE ratio of 10.26 and a beta of 1.07.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. Sell-side analysts predict that Old Second Bancorp, Inc. will post 1.87 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, January 31st. Old Second Bancorp’s payout ratio is currently 12.83%.

Insider Buying and Selling at Old Second Bancorp

In related news, Director Rocks Patti Temple bought 5,625 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $17.79 per share, with a total value of $100,068.75. Following the completion of the transaction, the director now directly owns 18,679 shares of the company’s stock, valued at approximately $332,299.41. This represents a 43.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Old Second Bancorp by 16.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider’s stock worth $17,174,000 after purchasing an additional 153,187 shares during the last quarter. State Street Corp raised its holdings in Old Second Bancorp by 6.5% in the third quarter. State Street Corp now owns 1,264,359 shares of the financial services provider’s stock valued at $19,711,000 after acquiring an additional 77,143 shares in the last quarter. Jane Street Group LLC boosted its stake in Old Second Bancorp by 25.8% during the 3rd quarter. Jane Street Group LLC now owns 62,398 shares of the financial services provider’s stock valued at $973,000 after acquiring an additional 12,785 shares during the last quarter. Barclays PLC grew its holdings in Old Second Bancorp by 81.3% during the 3rd quarter. Barclays PLC now owns 116,582 shares of the financial services provider’s stock worth $1,817,000 after acquiring an additional 52,277 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Old Second Bancorp by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,029,485 shares of the financial services provider’s stock worth $16,053,000 after purchasing an additional 22,747 shares during the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.