Old Second Bancorp, Inc. (NASDAQ: OSBC – Get a rating) Vice Chairman Gary S. Collins purchased 1,000 shares in a trade dated Friday, September 16. The shares were purchased at an average cost of $13.35 per share, for a total transaction of $13,350.00. Following the completion of the purchase, the insider now owns 126,857 shares of the company, valued at $1,693,540.95. The transaction was disclosed in a legal filing with the SEC, which is available via this link.
Price performance of former second Bancorp
Shares of OSBC traded at $0.31 midday on Monday, hitting $14.00. 96,958 shares of the company were traded, against an average volume of 210,386. Old Second Bancorp, Inc. has a 1-year low of $11.73 and a 1-year high of $15.68. The company has a debt ratio of 0.31, a quick ratio of 0.72 and a current ratio of 0.72. The company has a 50-day moving average of $14.12 and a 200-day moving average of $14.23. The stock has a market capitalization of $623.88 million, a price-earnings ratio of 24.02 and a beta of 1.09.
Former second Bancorp (NASDAQ:OSBC – Get a rating) last released its quarterly results on Wednesday, July 27. The financial services provider reported earnings per share of $0.27 for the quarter, missing the consensus estimate of $0.34 per ($0.07). Old Second Bancorp had a return on equity of 11.69% and a net margin of 12.48%. Analysts expect Old Second Bancorp, Inc. to post EPS of 1.5 for the current fiscal year.
Former Second Bancorp dividend announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 8. Shareholders of record on Friday, July 29 received a dividend of $0.05. The ex-dividend date was Thursday, July 28. This represents a dividend of $0.20 on an annualized basis and a yield of 1.43%. Old Second Bancorp’s payout ratio is 35.09%.
Analysts set new price targets
OSBC has been the subject of several recent analyst reports. Raymond James raised his price target on shares of Old Second Bancorp from $18.00 to $18.50 and gave the stock a ‘strong buy’ rating in a Thursday, July 7 research note . TheStreet downgraded shares of Old Second Bancorp from a “b” rating to a “c+” rating in a Thursday, July 28 research note.
Institutional trading of the former second Bancorp
A number of hedge funds have recently bought and sold shares of the company. Rothschild & Co. Asset Management US Inc. increased its stake in Old Second Bancorp by 0.8% in the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 95,151 shares of the financial services provider valued at $1,381,000 after acquiring 779 additional shares in the last quarter. First Trust Advisors LP increased its holdings in Old Second Bancorp by 7.3% in the fourth quarter. First Trust Advisors LP now owns 13,322 shares of the financial services provider valued at $168,000 after acquiring 909 additional shares in the last quarter. Prudential Financial Inc. increased its holdings in Old Second Bancorp by 1.9% in the second quarter. Prudential Financial Inc. now owns 58,298 shares of the financial services provider valued at $780,000 after acquiring 1,110 additional shares in the last quarter. Federated Hermes Inc. increased its stake in Old Second Bancorp by 7.1% in Q1. Federated Hermes Inc. now owns 32,019 shares of the financial services provider valued at $465,000 after acquiring 2,134 additional shares in the last quarter. Finally, the Manufacturers Life Insurance Company increased its stake in Old Second Bancorp by 0.3% in the first quarter. The Manufacturers Life Insurance Company now owns 1,075,355 shares of the financial services provider valued at $15,603,000 after acquiring 2,969 additional shares in the last quarter. Institutional investors and hedge funds hold 67.30% of the company’s shares.
About Old Second Bancorp
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank which provides community banking services. It provides current, NOW, money market, savings, term deposit, individual retirement and checking accounts, as well as certificates of deposit accounts. The company also offers commercial loans; finance lease receivables; commercial real estate loans; building loans; residential real estate loans, such as residential first and second mortgages; home equity line of credit; consumer loans, including auto, home improvement and signature loans; installment loans and agricultural loans; residential mortgages; and verification of overdrafts.
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