Key Points
- Director Hugh Mclean sold 25,000 Old Second Bancorp shares at an average price of $25.63, generating $640,750. Following the transaction, he retained 135,351 shares, a 15.59% reduction in his direct ownership.
- Old Second Bancorp reported quarterly EPS of $0.55, matching analyst expectations, with a 20.22% net margin and 12.79% return on equity. The company also maintains a quarterly dividend of $0.07 per share, yielding approximately 1.1%.
- Analysts maintain a generally positive outlook, with five Buy ratings and two Holds, producing a consensus rating of “Moderate Buy” and an average price target of $25.40. Institutional investors own 67.76% of the company.
Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) Director Hugh Mclean sold 25,000 shares of Old Second Bancorp stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $25.63, for a total value of $640,750.00. Following the sale, the director directly owned 135,351 shares in the company, valued at $3,469,046.13. The trade was a 15.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Old Second Bancorp Stock Performance
Old Second Bancorp stock opened at $25.53 on Wednesday. The business has a 50 day moving average of $24.68 and a 200-day moving average of $22.22. The company has a market capitalization of $1.30 billion, a P/E ratio of 14.67 and a beta of 0.70. Old Second Bancorp, Inc. has a 1 year low of $16.65 and a 1 year high of $26.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91.
Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. On average, equities research analysts predict that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current year.
Old Second Bancorp Dividend Announcement
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, July 31st. Old Second Bancorp's payout ratio is 16.09%.
Institutional Trading of Old Second Bancorp
A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Old Second Bancorp during the 2nd quarter worth about $100,245,000. Vanguard Group Inc. lifted its stake in shares of Old Second Bancorp by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider's stock valued at $63,929,000 after purchasing an additional 8,395 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Old Second Bancorp by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider's stock valued at $48,159,000 after purchasing an additional 127,988 shares in the last quarter. FJ Capital Management LLC boosted its position in shares of Old Second Bancorp by 4.5% during the 3rd quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider's stock valued at $33,186,000 after purchasing an additional 82,601 shares in the last quarter. Finally, Davis Asset Management L.P. bought a new stake in shares of Old Second Bancorp during the 2nd quarter valued at about $41,976,000. Institutional investors own 67.76% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on OSBC. Weiss Ratings restated a "buy (b)" rating on shares of Old Second Bancorp in a report on Wednesday, August 26th. DA Davidson upped their price target on Old Second Bancorp from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Zacks Research downgraded Old Second Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 31st. Raymond James Financial assumed coverage on Old Second Bancorp in a research note on Tuesday, July 7th. They issued an "outperform" rating and a $26.00 price objective on the stock. Finally, Piper Sandler reissued 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 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.com, Old Second Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $25.40.
Read Our Latest Stock Report on Old Second Bancorp
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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