Old Second Bancorp (NASDAQ:OSBC) Price Target Raised to $19.50

Old Second Bancorp (NASDAQ:OSBC) had its price target raised by Piper Sandler from $18.00 to $19.50 in a report published on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on the stock. Raymond James upgraded shares of Old Second Bancorp from an outperform rating to a strong-buy rating and set a $17.00 target price on the stock in a report on Thursday, April 4th. Stephens reiterated an overweight rating and issued a $17.00 price objective on shares of Old Second Bancorp in a report on Friday, April 19th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $18.13.

Old Second Bancorp Price Performance

Shares of Old Second Bancorp stock opened at $16.36 on Friday. The business’s fifty day moving average price is $14.59 and its 200 day moving average price is $14.16. The stock has a market capitalization of $733.68 million, a P/E ratio of 8.30 and a beta of 1.09. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.14. Old Second Bancorp has a twelve month low of $13.00 and a twelve month high of $16.99.

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 26th will be paid a $0.05 dividend. The ex-dividend date is Friday, July 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.22%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 10.15%.

Insider Transactions at Old Second Bancorp

In related news, Vice Chairman Gary S. Collins sold 21,002 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $14.23, for a total value of $298,858.46. Following the completion of the sale, the insider now directly owns 46,624 shares of the company’s stock, valued at $663,459.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its stake in 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 worth $72,000 after purchasing an additional 853 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Old Second Bancorp by 11.6% in the fourth quarter. New York State Common Retirement Fund now owns 16,574 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 1,720 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $245,000 after acquiring an additional 1,807 shares during the period. OLD Second National Bank of Aurora grew its holdings in shares of Old Second Bancorp by 0.9% during the fourth quarter. OLD Second National Bank of Aurora now owns 300,025 shares of the financial services provider’s stock valued at $4,632,000 after purchasing an additional 2,793 shares during the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Old Second Bancorp during the 4th quarter worth approximately $46,000. 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.