Old Second Bancorp (NASDAQ:OSBC) Price Target Raised to $23.00

Old Second Bancorp (NASDAQ:OSBC - Free Report) had its target price upped by Piper Sandler from $22.50 to $23.00 in a report released on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider's stock.

Several other equities analysts have also issued reports on OSBC. Raymond James lowered Old Second Bancorp from a "strong-buy" rating to an "outperform" rating and reduced their price target for the stock from $19.00 to $18.00 in a research report on Tuesday, September 17th. DA Davidson lowered Old Second Bancorp from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $19.00 to $17.00 in a research report on Wednesday, September 25th.

Old Second Bancorp Stock Up 0.5 %

NASDAQ:OSBC traded up $0.09 on Friday, hitting $17.13. The stock had a trading volume of 438,971 shares, compared to its average volume of 226,138. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $768.21 million, a P/E ratio of 8.70 and a beta of 1.06. Old Second Bancorp has a 1 year low of $13.00 and a 1 year high of $17.46. The firm's fifty day simple moving average is $16.04 and its two-hundred day simple moving average is $15.11.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). Old Second Bancorp had a net margin of 25.62% and a return on equity of 14.83%. The company had revenue of $70.82 million for the quarter, compared to the consensus estimate of $70.03 million. Analysts predict that Old Second Bancorp will post 1.89 earnings per share for the current year.

Old Second Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 25th will be given a $0.06 dividend. 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 dividend yield of 1.40%. The ex-dividend date is Friday, October 25th. Old Second Bancorp's dividend payout ratio (DPR) is currently 10.15%.

Insider Transactions at Old Second Bancorp

In other news, Director John Ladowicz sold 30,585 shares of the firm's stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $16.22, for a total value of $496,088.70. Following the completion of the transaction, the director now owns 189,192 shares in the company, valued at $3,068,694.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its stake in shares of Old Second Bancorp by 19.8% in the first quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider's stock worth $72,000 after purchasing an additional 853 shares during the last quarter. Lakewood Asset Management LLC raised its stake in shares of Old Second Bancorp by 8.8% in the third quarter. Lakewood Asset Management LLC now owns 19,951 shares of the financial services provider's stock worth $311,000 after purchasing an additional 1,612 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Old Second Bancorp by 11.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,632 shares of the financial services provider's stock worth $245,000 after purchasing an additional 1,807 shares during the last quarter. Hunter Perkins Capital Management LLC raised its stake in shares of Old Second Bancorp by 3.7% in the third quarter. Hunter Perkins Capital Management LLC now owns 52,955 shares of the financial services provider's stock worth $826,000 after purchasing an additional 1,870 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Old Second Bancorp by 2.7% in the second quarter. Rhumbline Advisers now owns 73,155 shares of the financial services provider's stock worth $1,083,000 after purchasing an additional 1,923 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.