Zacks Investment Research cut shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) from a buy rating to a hold rating in a research report report published on Saturday.
According to Zacks, “Old Second Bancorp Inc.’s full service banking businesses include the customary consumer and commercial products and services which banks provide. The following services are included: demand, savings, time deposit, individual retirement and Keogh deposit accounts; commercial, industrial, consumer and real estate lending, including installment loans, student loans, farm loans, lines of credit and overdraft checking; safe deposit operations; trust services; and an extensive variety of additional services tailored to the needs of individual customers. “
Other analysts have also recently issued reports about the company. ValuEngine upgraded Old Second Bancorp from a hold rating to a buy rating in a research note on Friday, June 2nd. BidaskClub upgraded Old Second Bancorp from a hold rating to a buy rating in a research note on Friday, August 4th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $11.50 price target on shares of Old Second Bancorp in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $12.25.
Old Second Bancorp (NASDAQ OSBC) opened at 11.25 on Friday. The company’s 50-day moving average price is $11.69 and its 200 day moving average price is $11.43. Old Second Bancorp has a 12 month low of $7.45 and a 12 month high of $12.75. The firm has a market capitalization of $333.30 million, a price-to-earnings ratio of 18.15 and a beta of 1.31.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Friday, July 28th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Wednesday, July 26th.
In other news, Director William Kane sold 10,000 shares of Old Second Bancorp stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $11.98, for a total transaction of $119,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edward Bonifas bought 3,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were purchased at an average price of $11.58 per share, for a total transaction of $34,740.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 46,784 shares of company stock worth $554,360 and sold 12,000 shares worth $143,660. 3.60% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake in Old Second Bancorp by 19.7% in the fourth quarter. State Street Corp now owns 434,408 shares of the financial services provider’s stock worth $4,799,000 after buying an additional 71,364 shares during the period. Teachers Advisors LLC boosted its stake in Old Second Bancorp by 5.0% in the fourth quarter. Teachers Advisors LLC now owns 45,887 shares of the financial services provider’s stock worth $507,000 after buying an additional 2,193 shares during the period. Wells Fargo & Company MN boosted its stake in Old Second Bancorp by 7.0% in the first quarter. Wells Fargo & Company MN now owns 75,588 shares of the financial services provider’s stock worth $851,000 after buying an additional 4,936 shares during the period. Wedge Capital Management L L P NC boosted its stake in Old Second Bancorp by 12.1% in the first quarter. Wedge Capital Management L L P NC now owns 79,700 shares of the financial services provider’s stock worth $897,000 after buying an additional 8,600 shares during the period. Finally, First Trust Advisors LP boosted its stake in Old Second Bancorp by 9.4% in the first quarter. First Trust Advisors LP now owns 54,557 shares of the financial services provider’s stock worth $614,000 after buying an additional 4,693 shares during the period. Institutional investors and hedge funds own 65.70% of the company’s stock.
About Old Second Bancorp
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