Old Second Bancorp (NASDAQ:OSBC) Reaches New 52-Week High – Here’s What Happened

Old Second Bancorp, Inc. (NASDAQ:OSBC)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $17.95 and last traded at $17.95, with a volume of 8624 shares. The stock had previously closed at $16.67.

Analysts Set New Price Targets

A number of research analysts have commented on OSBC shares. DA Davidson set a $18.00 price objective on Old Second Bancorp in a report on Thursday, October 17th. Piper Sandler upped their price target on shares of Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research note 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 objective for the stock from $19.00 to $18.00 in a research note on Tuesday, September 17th.

Old Second Bancorp Stock Up 7.0 %

The company has a market cap of $799.68 million, a P/E ratio of 9.01 and a beta of 1.06. The stock has a 50-day moving average of $16.22 and a 200 day moving average of $15.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07.

Old Second Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders 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 1.35%. The ex-dividend date was Friday, October 25th. Old Second Bancorp’s dividend payout ratio (DPR) is currently 12.97%.

Institutional Trading of Old Second Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Old Second Bancorp during the first quarter valued at approximately $90,000. BNP Paribas Financial Markets raised its holdings in shares of Old Second Bancorp by 65.6% during the 1st quarter. BNP Paribas Financial Markets now owns 21,857 shares of the financial services provider’s stock worth $303,000 after buying an additional 8,661 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Old Second Bancorp by 8.2% during the 1st quarter. Empowered Funds LLC now owns 101,679 shares of the financial services provider’s stock worth $1,407,000 after buying an additional 7,667 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Old Second Bancorp by 175.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 34,070 shares of the financial services provider’s stock valued at $479,000 after buying an additional 21,680 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Old Second Bancorp by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock valued at $33,548,000 after acquiring an additional 45,955 shares during the last quarter. 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.