Key Points
- Insider sale: Darin Patrick Campbell sold 24,000 Old Second Bancorp shares for approximately $612,720, reducing his position by 8.74% to 250,589 shares.
- Financial performance: The company reported quarterly EPS of $0.55, in line with analyst expectations, alongside a 12.79% return on equity and 20.22% net margin.
- Investor outlook: Analysts maintain a “Moderate Buy” consensus with an average $25.40 price target, while the company pays a $0.07 quarterly dividend, yielding about 1.1%.
Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) insider Darin Patrick Campbell sold 24,000 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $25.53, for a total value of $612,720.00. Following the completion of the sale, the insider owned 250,589 shares in the company, valued at $6,397,537.17. The trade was a 8.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Old Second Bancorp Stock Up 0.6%
Old Second Bancorp stock opened at $25.68 on Friday. The business's 50-day moving average price is $24.54 and its 200 day moving average price is $22.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 14.76 and a beta of 0.70. Old Second Bancorp, Inc. has a 52 week low of $16.65 and a 52 week high of $26.06.
Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) 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, sell-side analysts anticipate that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current year.
Old Second Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 31st were issued a dividend of $0.07 per share. 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 16.09%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. DA Davidson increased their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Zacks Research cut shares of Old Second Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday. Weiss Ratings reiterated a "buy (b)" rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. Raymond James Financial initiated coverage on shares of Old Second Bancorp in a research note on Tuesday, July 7th. They set an "outperform" rating and a $26.00 target price on the stock. Finally, Piper Sandler restated an "overweight" rating and set a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Old Second Bancorp has an average rating of "Moderate Buy" and a consensus price target of $25.40.
Get Our Latest Analysis on OSBC
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC grew its stake in 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 valued at $519,000 after acquiring an additional 493 shares during the period. Quadrant Capital Group LLC increased its holdings in Old Second Bancorp by 32.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider's stock worth $49,000 after acquiring an additional 622 shares in the last quarter. Russell Investments Group Ltd. raised its position in Old Second Bancorp by 0.8% during the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider's stock worth $2,186,000 after acquiring an additional 908 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Old Second Bancorp by 4.3% during the first 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 lifted its holdings in Old Second Bancorp by 458.5% during the second 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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