Old Second Bancorp (NASDAQ:OSBC) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) saw an uptick in trading volume on Wednesday . 498,422 shares changed hands during mid-day trading, an increase of 119% from the previous session’s volume of 227,392 shares.The stock last traded at $16.92 and had previously closed at $16.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Raymond James cut Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $19.00 to $18.00 in a research report on Tuesday, September 17th. Finally, DA Davidson set a $18.00 price target on shares of Old Second Bancorp in a report on Thursday, October 17th.

Old Second Bancorp Price Performance

The company has a market capitalization of $732.40 million, a price-to-earnings ratio of 8.88 and a beta of 1.06. The stock’s 50-day simple moving average is $16.23 and its two-hundred day simple moving average is $15.33. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

Old Second Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 25th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, October 25th. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s dividend payout ratio (DPR) is 12.97%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Davis Asset Management L.P. acquired a new position in Old Second Bancorp during the second quarter worth $8,623,000. Assenagon Asset Management S.A. lifted its stake in Old Second Bancorp by 180.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 443,527 shares of the financial services provider’s stock worth $6,915,000 after acquiring an additional 285,314 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Old Second Bancorp by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock valued at $25,188,000 after acquiring an additional 138,253 shares during the period. American Century Companies Inc. lifted its position in shares of Old Second Bancorp by 19.7% during the second quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock worth $11,851,000 after purchasing an additional 131,623 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Old Second Bancorp by 20.1% in the second quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider’s stock valued at $4,561,000 after purchasing an additional 51,652 shares in the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

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.