Old Second Bancorp (NASDAQ:OSBC) Director Hugh Mclean Sells 25,000 Shares of Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) Director Hugh Mclean sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $25.63, for a total value of $640,750.00. Following the sale, the director directly owned 135,351 shares in the company, valued at $3,469,046.13. This represents a 15.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Old Second Bancorp Price Performance

Old Second Bancorp stock opened at $25.53 on Wednesday. The firm has a market cap of $1.30 billion, a PE ratio of 14.67 and a beta of 0.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s fifty day moving average price is $24.68 and its two-hundred day moving average price is $22.22. Old Second Bancorp, Inc. has a one year low of $16.65 and a one year high of $26.06.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. As a group, research analysts expect that Old Second Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Old Second Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Old Second Bancorp in the 2nd quarter valued at approximately $100,245,000. Vanguard Group Inc. increased its holdings in shares of Old Second Bancorp by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider’s stock worth $63,929,000 after buying an additional 8,395 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Old Second Bancorp by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider’s stock worth $48,159,000 after buying an additional 127,988 shares in the last quarter. FJ Capital Management LLC lifted its stake in shares of Old Second Bancorp by 4.5% in the 3rd quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock valued at $33,186,000 after acquiring an additional 82,601 shares during the last quarter. Finally, Davis Asset Management L.P. bought a new position in shares of Old Second Bancorp in the 2nd quarter valued at $41,976,000. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Raymond James Financial assumed coverage on shares of Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. Zacks Research lowered Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. DA Davidson boosted their price target on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.40.

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.