Old Second Bancorp Inc (OSBC), a Chicago-based financial services holding company, forms the epicenter of its community’s financial activities by offering a vast range of banking products and services since 1871. Recognized under NASDAQ, the company has grown substantially to cater to commercial and retail customers through its affiliate, Old Second National Bank, which has more than 25 strategic locations across Kane, Kendall, Dupage, Dekalb, Will, Cook, and LaSalle counties in Illinois.
Understanding every customer's unique need, Old Second Bancorp's extensive product portfolio is quite impressive. Their offering includes demand, NOW, money market, savings, time deposit, individual retirement accounts, and residential mortgage accounts. Apart from traditional banking products, the company also ventures into a wide array of corporate lending services, including commercial, industrial, commercial real estate, and construction loans.
Old Second Bancorp has representative expertise in wealth management services which further includes trusts, financial planning, investment, and brokerage services. Risk management is another impressive branch of the company’s service tree that covers insurance products for businesses and individuals alike.
Owing to its substantial presence in the industry, Old Second Bancorp was able to tally total assets worth $3.2 billion by the end of 2020. This was a result of their commitment to integrate technology with financial services as seen in their mobile banking solutions, providing easy access for customers to manage their finances on-the-go, thus enabling seamless monetary transactions.
Old Second Bancorp is not just known for delivering high-quality financial services, but also for its commitment to corporate social responsibility. The company takes a keen interest in the development and well-being of the communities it serves. They actively participate in community events, sponsor non-profit organizations, and provide financial education in local schools and organizations, setting a strong example of corporate citizenship.
Over the years, Old Second Bancorp has proven itself to be a steadfast and reliable entity, demonstrating resilience even during market downturns. As they continue to innovate and adhere to customer-centric strategies, the future looks promising for the entire OSBC community, customers, and shareholders alike.
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Wellington Management Group LLP reduced its stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 36.5% in the second quarter, selling 313,440 shares but still retaining 544,345 shares valued at $12.7 million. Despite institutional selling, analysts maintain a "Moderate Buy" rating with a consensus price target of $25.40. However, corporate insiders have also sold a significant amount of shares totaling $3.17 million over the past 90 days.
Old Second Bancorp (NASDAQ:OSBC) Director Hugh Mclean sold 25,000 shares of the company's stock for $640,750 on September 8th, reducing his ownership by 15.59% to 135,351 shares. The company's stock traded at $25.53, near its 52-week high, and reported quarterly earnings of $0.55 EPS, meeting analyst estimates. Old Second Bancorp maintains a quarterly dividend of $0.07, and analysts have a "Moderate Buy" consensus rating with a $25.40 target price.
Legal & General Group Plc has acquired 40,578 shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) for approximately $946,000, establishing a new position in the company. Institutional investors now own 67.76% of Old Second Bancorp, while corporate insiders have been net sellers, divesting 124,000 shares worth about $3.17 million in the last 90 days. The financial services provider reported quarterly EPS of $0.55, matching analyst expectations, and maintains a "Moderate Buy" consensus rating with an average price target of $25.40.
Bank of New York Mellon Corp acquired 342,013 shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) in the second quarter, bringing its stake to 0.67% valued at $8.0 million. Institutional investors collectively own 67.76% of the company, while insiders recently sold shares totaling $3.17 million but still maintain a 3.60% ownership. Old Second Bancorp reported in-line quarterly EPS of $0.55 and analysts maintain a "Moderate Buy" rating with an average price target of $25.40.
Zacks Research has downgraded Old Second Bancorp (NASDAQ:OSBC) from a "strong-buy" to a "hold" rating, though the overall analyst consensus remains a "Moderate Buy" with an average price target of $25.40. The company's shares opened at $25.08, close to its 12-month high, and it recently met analyst expectations with quarterly EPS of $0.55. CEO James Eccher sold 55,687 shares, valued at approximately $1.42 million, and institutional investors collectively own 67.76% of the company.