Old Second Bancorp (NASDAQ:OSBC) stock price crosses above the 200-day moving average of $14.28


Former second Bancorp, Inc. (NASDAQ: OSBCGet a rating) the stock moved above its 200-day moving average during Wednesday’s session. The stock has a 200-day moving average of $14.28 and is trading as low as $14.62. Old Second Bancorp shares last traded at $14.58, with volume traded at 113,340 shares.

Wall Street analysts predict growth

OSBC has been the subject of a number of recent research reports. Raymond James raised his price target on shares of Old Second Bancorp from $18.00 to $18.50 and gave the company a “strong buy” rating in a Thursday, July 7 research note. TheStreet upgraded Old Second Bancorp from a ‘b’ to a ‘c+’ rating in a Thursday, July 28 research report.

Shares of former No. 2 Bancorp down 0.9%

The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt ratio of 0.31. The company has a market capitalization of $649.73 million, a P/E ratio of 25.58 and a beta of 1.10. The stock’s fifty-day moving average is $14.18 and its two-hundred-day moving average is $14.28.

Former second Bancorp (NASDAQ: OSBCGet a rating) last released its quarterly earnings data on Wednesday, July 27. The financial services provider reported earnings per share (EPS) of $0.27 for the quarter, missing analyst consensus estimates of $0.34 per ($0.07). Old Second Bancorp had a return on equity of 11.69% and a net margin of 12.48%. As a group, research analysts expect Old Second Bancorp, Inc. to post 1.5 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 8. Investors of record on Friday, July 29 received a dividend of $0.05. This represents an annualized dividend of $0.20 and a dividend yield of 1.37%. The ex-dividend date was Thursday, July 28. Old Second Bancorp’s dividend payout ratio (DPR) is 35.09%.

Institutional investors weigh in on Old Second Bancorp

Several hedge funds have recently bought and sold shares of the stock. RMB Capital Management LLC purchased a new stake in shares of Old Second Bancorp during Q2 for a value of $5,753,000. Prudential Financial Inc. increased its stake in Old Second Bancorp by 1.9% during the second quarter. Prudential Financial Inc. now owns 58,298 shares of the financial services provider worth $780,000 after buying an additional 1,110 shares in the last quarter. The Public Employees Retirement Association of Colorado bought a new stock position in Old Second Bancorp in Q2 for about $351,000. Occudo Quantitative Strategies LP increased its position in shares of Old Second Bancorp by 141.7% during the second quarter. Occudo Quantitative Strategies LP now owns 43,265 shares of the financial services provider valued at $579,000 after buying an additional 25,363 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Old Second Bancorp by 72.3% during the 2nd quarter. State Street Corp now owns 1,001,589 shares of the financial services provider valued at $13,401,000 after buying an additional 420,215 shares last quarter. 50.83% of the shares are currently held by institutional investors.

About Old Second Bancorp

(Get a rating)

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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