Old Second Bancorp (NASDAQ:OSBC) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.55 and traded as high as $22.25. Old Second Bancorp shares last traded at $22.08, with a volume of 335,595 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on OSBC shares. Piper Sandler cut their price objective on Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Finally, Stephens started coverage on Old Second Bancorp in a research note on Friday, March 27th. They issued an “overweight” rating and a $23.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Old Second Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Old Second Bancorp Stock Performance

The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 13.14 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s fifty day moving average is $21.27 and its two-hundred day moving average is $20.55.

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

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Friday, May 1st were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, May 1st. Old Second Bancorp’s payout ratio is presently 16.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC grew its stake in Old Second Bancorp by 181.3% during the 1st quarter. Parallel Advisors LLC now owns 2,622 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 1,690 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Old Second Bancorp by 67.8% during the 1st quarter. Janus Henderson Group PLC now owns 26,232 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 10,597 shares during the last quarter. Amundi acquired a new position in shares of Old Second Bancorp in the 1st quarter valued at approximately $276,000. Empowered Funds LLC raised its position in shares of Old Second Bancorp by 6.1% in the 1st quarter. Empowered Funds LLC now owns 233,559 shares of the financial services provider’s stock valued at $4,709,000 after purchasing an additional 13,438 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Old Second Bancorp by 58.8% during the 1st quarter. Quantinno Capital Management LP now owns 49,879 shares of the financial services provider’s stock valued at $1,006,000 after buying an additional 18,461 shares during the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

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.