Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives Average Rating of “Moderate Buy” from Brokerages

Old Second Bancorp, Inc. (NASDAQ:OSBC) has earned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $23.3750.

OSBC has been the subject of a number of research analyst reports. DA Davidson increased their target price on Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Stephens assumed coverage on Old Second Bancorp in a research report on Friday. They set an “overweight” rating and a $23.00 price target for the company. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Thursday, January 22nd.

Old Second Bancorp Stock Performance

Shares of OSBC stock opened at $19.57 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. Old Second Bancorp has a 12-month low of $14.14 and a 12-month high of $22.00. The business’s 50 day moving average is $20.08 and its two-hundred day moving average is $19.22. The company has a market capitalization of $1.03 billion, a P/E ratio of 12.01 and a beta of 0.79.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Old Second Bancorp had a net margin of 20.00% and a return on equity of 12.79%. The business had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $82.49 million. Analysts expect that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Friday, January 30th were issued a $0.07 dividend. The ex-dividend date was Friday, January 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. Old Second Bancorp’s dividend payout ratio is presently 17.18%.

Insider Buying and Selling

In related news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of Old Second Bancorp stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $20.98, for a total transaction of $41,960.00. Following the transaction, the executive vice president owned 24,874 shares in the company, valued at approximately $521,856.52. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Darin Patrick Campbell sold 35,000 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total value of $732,900.00. Following the transaction, the insider directly owned 274,589 shares in the company, valued at $5,749,893.66. This trade represents a 11.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 37,091 shares of company stock valued at $776,744 over the last 90 days. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

A number of hedge funds have recently modified their holdings of OSBC. Boston Partners acquired a new stake in shares of Old Second Bancorp during the 4th quarter worth about $15,994,000. Wellington Management Group LLP lifted its position in Old Second Bancorp by 521.2% in the fourth quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock valued at $18,909,000 after buying an additional 813,600 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Old Second Bancorp by 74.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock worth $24,599,000 after buying an additional 630,265 shares during the period. Vanguard Group Inc. boosted its stake in Old Second Bancorp by 20.4% during the third quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock worth $56,522,000 after buying an additional 553,169 shares during the period. Finally, Kennedy Capital Management LLC increased its position in shares of Old Second Bancorp by 93.3% during the second quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider’s stock valued at $17,687,000 after acquiring an additional 481,302 shares during the last quarter. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

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.