Key Points
- Insider sale: EVP Richard Gartelmann Jr. sold 2,000 shares on Feb. 5 at an average price of $20.98 for $41,960, cutting his stake by 7.44% to 24,874 shares (SEC Form 4 filed).
- Quarterly results and dividend: Old Second beat estimates with $0.58 EPS and $95.21M in revenue for the quarter, and announced a $0.07 quarterly dividend (annualized $0.28, ~1.3% yield; record date Jan. 30).
- Valuation and analyst view: Shares trade around $20.98 with a market cap of ~$1.1B and a P/E of ~12.9, while analysts rate the stock a "Moderate Buy" with an average price target of $22.63.
Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) EVP Richard Gartelmann, Jr. sold 2,000 shares of Old Second Bancorp stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $20.98, for a total value of $41,960.00. Following the transaction, the executive vice president directly owned 24,874 shares in the company, valued at approximately $521,856.52. This trade represents a 7.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Old Second Bancorp Stock Performance
Shares of OSBC traded up $0.32 during mid-day trading on Friday, reaching $20.98. 40,341 shares of the company's stock were exchanged, compared to its average volume of 360,982. The business's fifty day simple moving average is $20.10 and its 200-day simple moving average is $18.66. The stock has a market capitalization of $1.10 billion, a PE ratio of 12.87 and a beta of 0.82. Old Second Bancorp, Inc. has a 52-week low of $14.14 and a 52-week high of $22.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89.
Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Old Second Bancorp had a net margin of 20.00% and a return on equity of 13.36%. The firm had revenue of $95.21 million during the quarter, compared to the consensus estimate of $82.49 million. On average, equities research analysts expect that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current year.
Old Second Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Friday, January 30th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, January 30th. Old Second Bancorp's dividend payout ratio (DPR) is 17.18%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on OSBC. Keefe, Bruyette & Woods increased their price target on Old Second Bancorp from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, October 24th. Wall Street Zen upgraded shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, October 25th. DA Davidson lifted their target price on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Old Second Bancorp presently has an average rating of "Moderate Buy" and an average price target of $22.63.
Read Our Latest Research Report on OSBC
Institutional Trading of Old Second Bancorp
A number of institutional investors have recently added to or reduced their stakes in OSBC. Nisa Investment Advisors LLC grew its position 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 buying an additional 540 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Old Second Bancorp by 1.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 41,578 shares of the financial services provider's stock valued at $738,000 after acquiring an additional 757 shares during the period. Hudson Edge Investment Partners Inc. boosted its stake in shares of Old Second Bancorp by 1.6% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 61,653 shares of the financial services provider's stock worth $1,066,000 after acquiring an additional 979 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Old Second Bancorp by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider's stock worth $430,000 after acquiring an additional 1,067 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 1,215 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company's stock.
Old Second Bancorp Company Profile
(
Get Free Report)
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.
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