Old Second Bancorp (NASDAQ:OSBC) Reaches New 1-Year High – Should You Buy?

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $19.24 and last traded at $19.15, with a volume of 61663 shares trading hands. The stock had previously closed at $18.71.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Piper Sandler raised their target price on Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Raymond James lowered shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $19.00 to $18.00 in a research report on Tuesday, September 17th. Finally, DA Davidson set a $18.00 price objective on shares of Old Second Bancorp in a research note on Thursday, October 17th.

Old Second Bancorp Stock Performance

The firm has a market capitalization of $838.25 million, a PE ratio of 10.10 and a beta of 1.06. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $16.73 and a 200 day moving average of $15.86.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $71.16 million during the quarter, compared to analyst estimates of $70.95 million. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. Equities research analysts predict that Old Second Bancorp, Inc. will post 1.95 EPS for the current year.

Old Second Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were issued a $0.06 dividend. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.28%. Old Second Bancorp’s dividend payout ratio is presently 12.97%.

Institutional Trading of Old Second Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in OSBC. nVerses Capital LLC bought a new position in Old Second Bancorp in the second quarter valued at $33,000. Innealta Capital LLC purchased a new position in shares of Old Second Bancorp during the 2nd quarter valued at about $49,000. Quantbot Technologies LP lifted its position in Old Second Bancorp by 134.0% in the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after buying an additional 3,587 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Old Second Bancorp in the 3rd quarter worth approximately $101,000. Finally, CWM LLC boosted its stake in Old Second Bancorp by 36.3% in the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock worth $124,000 after buying an additional 2,123 shares in 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.