Old Second Bancorp (NASDAQ:OSBC) Sets New 52-Week High – What’s Next?

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OSBC. Piper Sandler lifted their price objective on Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Raymond James lowered 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 note on Tuesday, September 17th. Finally, DA Davidson set a $18.00 target price on shares of Old Second Bancorp in a research note on Thursday, October 17th.

Old Second Bancorp Stock Down 3.2 %

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 stock’s 50 day simple moving average is $16.27 and its 200 day simple moving average is $15.45. The firm has a market cap of $798.78 million, a P/E ratio of 9.63 and a beta of 1.06.

Old Second Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were issued a dividend of $0.06 per share. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, October 25th. Old Second Bancorp’s dividend payout ratio (DPR) is currently 12.97%.

Institutional Trading of Old Second Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Princeton Capital Management LLC grew its stake in shares of Old Second Bancorp by 7.8% in the 3rd quarter. Princeton Capital Management LLC now owns 13,770 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 1,000 shares in the last quarter. Quest Partners LLC grew its position in Old Second Bancorp by 173.0% in the 3rd quarter. Quest Partners LLC now owns 38,315 shares of the financial services provider’s stock worth $597,000 after purchasing an additional 24,279 shares in the last quarter. Empowered Funds LLC increased its stake in Old Second Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 115,181 shares of the financial services provider’s stock valued at $1,796,000 after buying an additional 5,762 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Old Second Bancorp during the 3rd quarter worth approximately $321,000. Finally, Aptus Capital Advisors LLC grew its holdings in shares of Old Second Bancorp by 15.6% in the third quarter. Aptus Capital Advisors LLC now owns 286,887 shares of the financial services provider’s stock valued at $4,473,000 after acquiring an additional 38,804 shares in the last quarter. 67.76% of the stock is owned by 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.