Old Second Bancorp (NASDAQ:OSBC) Reaches New 12-Month High – Should You Buy?

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.49 and last traded at $19.4840, with a volume of 228874 shares trading hands. The stock had previously closed at $18.93.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OSBC. Wall Street Zen raised Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Old Second Bancorp has a consensus rating of “Buy” and a consensus price target of $21.63.

Old Second Bancorp Price Performance

The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 12.99 and a beta of 0.83. The company has a 50 day simple moving average of $18.07 and a 200-day simple moving average of $17.81. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.02. Old Second Bancorp had a return on equity of 12.34% and a net margin of 18.89%.The company had revenue of $95.88 million during the quarter, compared to analysts’ expectations of $80.45 million. Research analysts expect that Old Second Bancorp, Inc. will post 1.86 EPS for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 31st were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, October 31st. Old Second Bancorp’s dividend payout ratio (DPR) is currently 18.54%.

Insider Activity at Old Second Bancorp

In other news, insider Darin Patrick Campbell sold 31,159 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $17.89, for a total value of $557,434.51. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Old Second Bancorp by 20.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock worth $56,522,000 after buying an additional 553,169 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Old Second Bancorp by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,204,884 shares of the financial services provider’s stock valued at $38,111,000 after acquiring an additional 86,416 shares during the last quarter. FJ Capital Management LLC raised its holdings in Old Second Bancorp by 4.5% during the third quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock worth $33,186,000 after acquiring an additional 82,601 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in 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 worth $24,599,000 after acquiring an additional 630,265 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Old Second Bancorp by 13.1% during the third quarter. American Century Companies Inc. now owns 1,387,891 shares of the financial services provider’s stock valued at $23,990,000 after purchasing an additional 160,429 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

About Old Second Bancorp

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.