Brokerages Set Old Second Bancorp, Inc. (NASDAQ:OSBC) Target Price at $25.40

Old Second Bancorp, Inc. (NASDAQ:OSBC) has received an average rating of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $25.40.

OSBC has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. DA Davidson boosted their target price on shares of Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Raymond James Financial assumed coverage on shares of Old Second Bancorp in a research note on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price target on the stock. Finally, Zacks Research upgraded shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th.

Old Second Bancorp Stock Up 0.3%

OSBC stock opened at $25.24 on Thursday. The company has a 50 day moving average of $24.33 and a two-hundred day moving average of $21.98. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 14.51 and a beta of 0.70. Old Second Bancorp has a 12-month low of $16.65 and a 12-month high of $26.06. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. On average, equities analysts anticipate that Old Second Bancorp will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 31st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, July 31st. Old Second Bancorp’s dividend payout ratio is presently 16.09%.

Insiders Place Their Bets

In other Old Second Bancorp news, CEO James Eccher sold 55,687 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $25.46, for a total value of $1,417,791.02. Following the completion of the sale, the chief executive officer owned 322,712 shares of the company’s stock, valued at $8,216,247.52. The trade was a 14.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OSBC. BlackRock Inc. acquired a new stake in Old Second Bancorp in the 2nd quarter worth approximately $100,245,000. Davis Asset Management L.P. acquired a new position in Old Second Bancorp during the second quarter valued at approximately $41,976,000. California State Teachers Retirement System raised its position in shares of Old Second Bancorp by 2,453.6% in the second quarter. California State Teachers Retirement System now owns 1,194,987 shares of the financial services provider’s stock valued at $27,867,000 after purchasing an additional 1,148,191 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Old Second Bancorp in the second quarter valued at approximately $20,350,000. Finally, Boston Partners acquired a new stake in shares of Old Second Bancorp in the fourth quarter worth $15,994,000. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Company Profile

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.