Old Second Bancorp (NASDAQ:OSBC) Sets New 52-Week High - Here's Why

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company 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 Ratings Changes

A number of analysts recently issued reports on the stock. Piper Sandler increased 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 report on Friday, October 18th. Raymond James downgraded shares of Old Second Bancorp from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th. Finally, DA Davidson set a $18.00 price target on Old Second Bancorp in a report on Thursday, October 17th.

Old Second Bancorp Stock Performance

The company's fifty day simple moving average is $16.22 and its two-hundred day simple moving average is $15.41. The company has a market capitalization of $824.79 million, a price-to-earnings ratio of 9.64 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

Old Second Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued 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 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, October 25th. Old Second Bancorp's payout ratio is currently 12.97%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in Old Second Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 115,181 shares of the financial services provider's stock worth $1,796,000 after purchasing an additional 5,762 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Old Second Bancorp in the 3rd quarter valued at about $321,000. Aptus Capital Advisors LLC raised its stake in Old Second Bancorp by 15.6% during the third quarter. Aptus Capital Advisors LLC now owns 286,887 shares of the financial services provider's stock worth $4,473,000 after acquiring an additional 38,804 shares during the period. GSA Capital Partners LLP acquired a new stake in Old Second Bancorp during the third quarter worth about $1,962,000. Finally, Principal Financial Group Inc. boosted its stake in Old Second Bancorp by 11.5% in the third quarter. Principal Financial Group Inc. now owns 32,243 shares of the financial services provider's stock valued at $503,000 after acquiring an additional 3,313 shares during the period. 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.