Rocks Patti Temple Acquires 5,625 Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) Stock

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

Old Second Bancorp Trading Down 1.3 %

OSBC opened at $17.84 on Friday. The firm 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 52 week low of $13.00 and a 52 week high of $19.37. The business’s 50 day moving average is $17.92 and its two-hundred day moving average is $16.49. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $71.16 million for the quarter, compared to analysts’ expectations of $70.95 million. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. On average, 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 announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were paid a dividend of $0.06 per share. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, October 25th. This represents a $0.24 annualized dividend and a dividend yield of 1.35%. Old Second Bancorp’s dividend payout ratio is 12.97%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in shares of Old Second Bancorp by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 230,080 shares of the financial services provider’s stock valued at $3,407,000 after purchasing an additional 13,928 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Old Second Bancorp by 378.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 30,998 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 24,515 shares during the period. Innealta Capital LLC purchased a new position in Old Second Bancorp in the 2nd quarter valued at $49,000. Principal Financial Group Inc. increased its stake in Old Second Bancorp by 9.3% in the 2nd quarter. Principal Financial Group Inc. now owns 28,930 shares of the financial services provider’s stock valued at $428,000 after buying an additional 2,462 shares during the period. Finally, Rothschild Investment LLC purchased a new position in Old Second Bancorp during the 2nd quarter worth $415,000. Institutional investors and hedge funds 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.