Old Second Bancorp, Inc. (NASDAQ:OSBC) Stock Has Consensus Target Price of $26.20

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have been given an average recommendation of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $26.20.

Several brokerages have issued reports on OSBC. Piper Sandler restated 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. Raymond James Financial upgraded Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $27.00 to $30.00 in a research note on Tuesday, October 6th. DA Davidson increased 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. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a report on Wednesday, August 26th. Finally, Zacks Research cut Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st.

Insiders Place Their Bets

In other news, CEO James Eccher sold 55,687 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $25.46, for a total value of $1,417,791.02. Following 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hugh H. Mclean sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $25.73, for a total transaction of $643,250.00. Following the completion of the sale, the director directly owned 135,351 shares in the company, valued at approximately $3,482,581.23. This trade represents a 15.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 149,000 shares of company stock worth $3,809,117 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. USA Financial Formulas purchased a new stake in shares of Old Second Bancorp during the third quarter worth $73,000. Forum Financial Management LP boosted its holdings in shares of Old Second Bancorp by 15.4% in the third quarter. Forum Financial Management LP now owns 237,367 shares of the financial services provider’s stock worth $5,813,000 after acquiring an additional 31,694 shares during the period. Congress Asset Management Co. boosted its holdings in shares of Old Second Bancorp by 21.4% in the third quarter. Congress Asset Management Co. now owns 411,201 shares of the financial services provider’s stock worth $10,070,000 after acquiring an additional 72,551 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Old Second Bancorp in the second quarter valued at $44,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Old Second Bancorp in the second quarter valued at $202,000. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Price Performance

Old Second Bancorp stock opened at $24.88 on Friday. Old Second Bancorp has a 12 month low of $16.88 and a 12 month high of $26.06. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $25.15 and its 200 day simple moving average is $23.24. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 14.30 and a beta of 0.77.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. Sell-side analysts forecast that Old Second Bancorp will post 2.22 EPS for the current year.

Old Second Bancorp Dividend Announcement

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

About Old Second Bancorp

Old Second Bancorp, Inc (NASDAQ: OSBC) is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides community banking services to individuals, families, businesses and institutions.

The bank offers a range of financial products and services, including commercial and residential real estate lending, business and consumer loans, checking and savings accounts, certificates of deposit, treasury management and online and mobile banking.