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

Old Second Bancorp, Inc. (NASDAQ:OSBC) CEO James Eccher sold 19,313 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $25.61, for a total value of $494,605.93. Following the transaction, the chief executive officer owned 303,399 shares of the company’s stock, valued at approximately $7,770,048.39. This represents a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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

NASDAQ:OSBC opened at $25.81 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. The firm’s fifty day simple moving average is $23.57 and its 200 day simple moving average is $21.59. The stock has a market cap of $1.31 billion, a P/E ratio of 14.83 and a beta of 0.70. Old Second Bancorp, Inc. has a twelve month low of $16.65 and a twelve month high of $26.04.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. As a group, research analysts predict that Old Second Bancorp, Inc. will post 2.2 EPS for the current year.

Old Second Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 31st were issued a $0.07 dividend. The ex-dividend date 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 16.09%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research raised Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Raymond James Financial assumed coverage on Old Second Bancorp in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. DA Davidson upped their price target on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Old Second Bancorp presently has a consensus rating of “Buy” and a consensus price target of $25.40.

Institutional Investors Weigh In On Old Second Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new position in shares of Old Second Bancorp during the second quarter valued at approximately $791,000. Davis Asset Management L.P. purchased a new stake in shares of Old Second Bancorp in the 2nd quarter worth approximately $41,976,000. Ieq Capital LLC purchased a new stake in shares of Old Second Bancorp in the 2nd quarter worth approximately $1,173,000. MSH Capital Advisors LLC bought a new position in Old Second Bancorp during the 2nd quarter valued at approximately $1,978,000. Finally, Great Lakes Advisors LLC bought a new position in Old Second Bancorp during the 2nd quarter valued at approximately $4,755,000. 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.