Insider Buying: Old Second Bancorp, Inc. (NASDAQ:OSBC) Director Buys 5,625 Shares of Stock

Old Second Bancorp, Inc. (NASDAQ:OSBC) Director Rocks Patti Temple acquired 5,625 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $17.79 per share, with a total value of $100,068.75. Following the completion of the acquisition, the director now directly owns 18,679 shares of the company’s stock, valued at approximately $332,299.41. This trade represents a 43.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Old Second Bancorp Stock Down 1.3 %

OSBC 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 company has a market cap of $800.18 million, a price-to-earnings ratio of 9.64 and a beta of 1.08. Old Second Bancorp, Inc. has a one year low of $13.00 and a one year high of $19.37. The business’s fifty day moving average is $17.92 and its two-hundred day moving average is $16.47.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data 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. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. The business had revenue of $71.16 million for the quarter, compared to analyst estimates of $70.95 million. Analysts anticipate that Old Second Bancorp, Inc. will post 1.95 EPS for the current fiscal year.

Old Second Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were given a $0.06 dividend. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 1.35%. Old Second Bancorp’s dividend payout ratio is currently 12.97%.

Analysts Set New Price Targets

Several research firms have commented on OSBC. Piper Sandler upped their price objective on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Raymond James raised Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Finally, DA Davidson set a $18.00 price target on shares of Old Second Bancorp in a report on Thursday, October 17th.

Institutional Investors Weigh In On Old Second Bancorp

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

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.