Old Second Bancorp (NASDAQ:OSBC) CEO Sells $1,417,791.02 in Stock

Old Second Bancorp, Inc. (NASDAQ:OSBCGet Free Report) CEO James Eccher sold 55,687 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $25.46, for a total value of $1,417,791.02. Following the completion of the sale, the chief executive officer directly owned 322,712 shares of the company’s stock, valued at $8,216,247.52. The trade was a 14.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Old Second Bancorp Trading Up 1.4%

NASDAQ:OSBC traded up $0.35 during trading hours on Wednesday, hitting $25.80. The company had a trading volume of 301,892 shares, compared to its average volume of 397,963. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a 50-day moving average price of $23.38 and a 200 day moving average price of $21.51. The company has a market capitalization of $1.31 billion, a PE ratio of 14.83 and a beta of 0.70. Old Second Bancorp, Inc. has a 52 week low of $16.65 and a 52 week high of $26.04.

Old Second Bancorp (NASDAQ:OSBCGet 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 12.85%. On average, equities research analysts predict that Old Second Bancorp, Inc. will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OSBC. BlackRock Inc. purchased a new stake in Old Second Bancorp during the 2nd quarter valued at $100,245,000. Boston Partners purchased a new position in shares of Old Second Bancorp in the fourth quarter worth $15,994,000. Wellington Management Group LLP lifted its holdings in shares of Old Second Bancorp by 521.2% during the fourth quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock valued at $18,909,000 after purchasing an additional 813,600 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Old Second Bancorp by 74.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after purchasing an additional 630,265 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Old Second Bancorp by 20.4% during the third quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock valued at $56,522,000 after buying an additional 553,169 shares during the last quarter. Institutional investors own 67.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OSBC. DA Davidson upped 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. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. Zacks Research upgraded Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Finally, Raymond James Financial assumed coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $25.40.

Get Our Latest Research Report on OSBC

About Old Second Bancorp

(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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