Old Second Bancorp (NASDAQ:OSBC) Reaches New 1-Year High - What's Next?

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $18.76 and last traded at $18.76, with a volume of 10577 shares traded. The stock had previously closed at $18.56.

Analysts Set New Price Targets

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

Old Second Bancorp Price Performance

The business's 50 day moving average is $16.32 and its two-hundred day moving average is $15.52. 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 firm has a market capitalization of $830.62 million, a PE ratio of 10.01 and a beta of 1.06.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.51 EPS for the quarter, beating 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 14.18%. The firm had revenue of $71.16 million during the quarter, compared to the consensus estimate of $70.95 million. Equities research analysts anticipate that Old Second Bancorp, Inc. will post 1.95 earnings per share for the current fiscal year.

Old Second Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 25th were given a $0.06 dividend. This is a boost from Old Second Bancorp's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.30%. Old Second Bancorp's payout ratio is presently 12.97%.

Hedge Funds Weigh In On Old Second Bancorp

A number of hedge funds have recently modified their holdings of OSBC. nVerses Capital LLC purchased a new position in shares of Old Second Bancorp during the second quarter valued at about $33,000. Innealta Capital LLC purchased a new position in shares of Old Second Bancorp during the second quarter valued at about $49,000. Ameritas Investment Partners Inc. increased its position in shares of Old Second Bancorp by 19.8% during the first quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider's stock valued at $72,000 after buying an additional 853 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Old Second Bancorp during the first quarter valued at about $90,000. Finally, CWM LLC increased its position in shares of Old Second Bancorp by 36.3% during 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 period. Hedge funds and other institutional investors own 67.76% of the company's stock.

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.

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