Old Second Bancorp, Inc. (NASDAQ:OSBC) Director Buys $100,068.75 in Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) Director Rocks Patti Temple purchased 5,625 shares of Old Second Bancorp stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the acquisition, the director now owns 18,679 shares in the company, valued at approximately $332,299.41. This trade represents a 43.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Old Second Bancorp Stock Performance

Shares of OSBC stock opened at $17.84 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $800.18 million, a P/E ratio of 9.64 and a beta of 1.08. The firm’s 50 day moving average price is $17.92 and its 200-day moving average price is $16.49. Old Second Bancorp, Inc. has a one year low of $13.00 and a one year high of $19.37.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $71.16 million during the quarter, compared to analyst estimates of $70.95 million. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. As a group, equities research analysts predict that Old Second Bancorp, Inc. will post 1.95 EPS for the current year.

Old Second Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 25th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, October 25th. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 1.35%. Old Second Bancorp’s dividend payout ratio is 12.97%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in Old Second Bancorp during the 2nd quarter worth approximately $33,000. Innealta Capital LLC purchased a new stake in shares of Old Second Bancorp during the second quarter worth $49,000. Quantbot Technologies LP raised its stake in shares of Old Second Bancorp by 134.0% in the third quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 3,587 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Old Second Bancorp in the third quarter valued at $101,000. Finally, CWM LLC grew its stake in Old Second Bancorp by 36.3% during the 3rd quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 2,123 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Analysts Set New Price Targets

OSBC has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. DA Davidson set a $18.00 price objective on Old Second Bancorp in a research report on Thursday, October 17th. Finally, Raymond James upgraded Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th.

Old Second Bancorp Company Profile

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.