Hugh Mclean Sells 25,000 Shares of Old Second Bancorp (NASDAQ:OSBC) Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) Director Hugh Mclean sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $25.73, for a total transaction of $643,250.00. Following the completion of the sale, the director directly owned 135,351 shares in the company, valued at approximately $3,482,581.23. This trade represents a 15.59% 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 Trading Up 0.6%

Shares of OSBC stock traded up $0.15 during mid-day trading on Thursday, reaching $25.68. The stock had a trading volume of 476,096 shares, compared to its average volume of 397,370. The stock’s 50-day moving average price is $24.49 and its two-hundred day moving average price is $22.08. Old Second Bancorp, Inc. has a 52-week low of $16.65 and a 52-week high of $26.06. The firm has a market capitalization of $1.31 billion, a PE ratio of 14.76 and a beta of 0.70. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. Equities analysts expect that Old Second Bancorp, Inc. will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 31st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. Old Second Bancorp’s payout ratio is 16.09%.

Analyst Ratings Changes

OSBC has been the topic of a number of research reports. DA Davidson lifted their target price on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Wednesday, August 26th. Zacks Research cut Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday. Piper Sandler reiterated 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. Finally, 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 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Old Second Bancorp presently has an average rating of “Moderate Buy” and an average target price of $25.40.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 valued at $430,000 after purchasing an additional 1,067 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Old Second Bancorp by 74.3% in 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 buying an additional 630,265 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Old Second Bancorp by 38.7% in the first quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider’s stock worth $2,794,000 after buying an additional 46,890 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Old Second Bancorp during the first quarter valued at approximately $1,378,000. Finally, Strs Ohio bought a new stake in shares of Old Second Bancorp during the first quarter valued at approximately $88,000. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

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.