Old Second Bancorp (NASDAQ:OSBC) Hits New 52-Week High – Here’s What Happened

Old Second Bancorp, Inc. (NASDAQ:OSBC) reached a new 52-week high during trading on Wednesday . The stock traded as high as $22.75 and last traded at $22.7640, with a volume of 17058 shares changing hands. The stock had previously closed at $22.57.

Wall Street Analysts Forecast Growth

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

Old Second Bancorp Price Performance

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 business’s 50 day simple moving average is $21.30 and its 200-day simple moving average is $20.57. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 13.60 and a beta of 0.71.

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

Old Second Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Friday, May 1st were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 1st. Old Second Bancorp’s dividend payout ratio is 16.67%.

Institutional Trading of Old Second Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC lifted its stake in shares of Old Second Bancorp by 1.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 493 shares during the period. Nisa Investment Advisors LLC raised its holdings in Old Second Bancorp by 12.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 540 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Old Second Bancorp by 32.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 622 shares during the period. Russell Investments Group Ltd. lifted its position in Old Second Bancorp by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock worth $2,186,000 after purchasing an additional 908 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 1,067 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

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.