Key Points
- CEO James Eccher sold 55,687 Old Second Bancorp shares for approximately $1.42 million at an average price of $25.46, reducing his position by 14.72% to 322,712 shares. The sale was executed under a pre-arranged Rule 10b5-1 trading plan.
- Old Second Bancorp shares opened at $25.80, near their 12-month high of $26.04. The company reported quarterly EPS of $0.55, in line with analyst expectations, and maintains a $0.07 quarterly dividend yielding about 1.1%.
- Analyst sentiment remains favorable, with the stock carrying a consensus “Buy” rating and an average price target of $25.40; Piper Sandler raised its target to $30, while institutional investors own 67.76% of the company.
Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) CEO James Eccher sold 55,687 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $25.46, for a total transaction of $1,417,791.02. Following the completion of the sale, the chief executive officer owned 322,712 shares in the company, valued at $8,216,247.52. This represents a 14.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Old Second Bancorp Trading Up 1.4%
Shares of Old Second Bancorp stock opened at $25.80 on Thursday. Old Second Bancorp, Inc. has a 12-month low of $16.65 and a 12-month high of $26.04. The stock has a market capitalization of $1.31 billion, a P/E ratio of 14.83 and a beta of 0.70. The company has a 50-day simple moving average of $23.49 and a 200 day simple moving average of $21.55. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11.
Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting analysts' consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. Research analysts expect that Old Second Bancorp, Inc. 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. Stockholders of record on Friday, July 31st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, July 31st. Old Second Bancorp's payout ratio is presently 16.09%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on OSBC. Raymond James Financial started coverage on Old Second Bancorp in a report on Tuesday, July 7th. They set an "outperform" rating and a $26.00 price target for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Old Second Bancorp in a research note on Friday, May 29th. DA Davidson increased their target price on Old Second Bancorp from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. 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. Finally, Zacks Research upgraded shares of Old Second Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $25.40.
Read Our Latest Research Report on OSBC
Institutional Trading of Old Second Bancorp
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 worth $430,000 after buying an additional 1,067 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Old Second Bancorp by 74.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider's stock valued at $24,599,000 after buying an additional 630,265 shares during the period. Empowered Funds LLC increased its stake in shares of Old Second Bancorp by 38.7% in the 1st quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider's stock valued at $2,794,000 after buying an additional 46,890 shares during the period. Jane Street Group LLC acquired a new stake in shares of Old Second Bancorp in the 1st quarter valued at $1,378,000. Finally, Strs Ohio bought a new stake in shares of Old Second Bancorp during the first quarter worth $88,000. Institutional investors and hedge funds 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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