Old Second Bancorp (NASDAQ:OSBC) Sets New 12-Month High – Here’s Why

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $17.95 and last traded at $17.95, with a volume of 8624 shares changing hands. The stock had previously closed at $16.67.

Analyst Upgrades and Downgrades

OSBC has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. DA Davidson set a $18.00 target price on Old Second Bancorp in a research note on Thursday, October 17th. Finally, Raymond James lowered Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th.

Old Second Bancorp Stock Performance

The firm has a market capitalization of $798.78 million, a price-to-earnings ratio of 9.63 and a beta of 1.06. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average is $16.27 and its 200-day moving average is $15.45.

Old Second Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 25th. This is an increase 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 12.97%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in shares of Old Second Bancorp in the second quarter valued at about $33,000. Innealta Capital LLC bought a new stake in Old Second Bancorp in the second quarter valued at approximately $49,000. Ameritas Investment Partners Inc. increased its position in Old Second Bancorp by 19.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 853 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Old Second Bancorp during the 1st quarter worth approximately $90,000. Finally, CWM LLC raised its holdings 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 during the last quarter. 67.76% of the stock is owned by institutional investors.

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.