In a recent transaction, Billy J. Lyons Jr., a director of Old Second Bancorp Inc. (NASDAQ:OSBC), acquired additional shares of the company. The transaction, which took place on May 6, 2024, involved the purchase of 24 shares at a price of $14.44 per share, amounting to a total investment of $346.
The purchase is a sign of Lyons' continued commitment to the company, where he now holds a total of 13,720 shares. This figure includes 5,273 shares in his name outright and 8,447 shares held with a broker, as detailed in the accompanying footnotes of the filing.
The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides insights into the trading activities of the company's insiders. Such disclosures are closely watched by investors seeking to understand the actions of company executives and directors with regards to their holdings.
Old Second Bancorp Inc., based in Aurora, Illinois, operates as a state commercial bank and has a long-standing presence in the region. The recent purchase by Director Lyons may be seen by investors as a positive signal regarding the bank's financial health and future prospects.
Investors and market watchers often look to insider buying and selling patterns as one indicator of a stock's potential direction. In the case of Old Second Bancorp, this latest acquisition by a key insider will likely be interpreted within the broader context of the company's performance and strategic initiatives.
InvestingPro Insights
Following the news of Director Billy J. Lyons Jr.'s recent share purchase in Old Second Bancorp Inc. (NASDAQ:OSBC), it's worth noting that the company's financial metrics provide additional context for investors. As of the last twelve months leading up to Q1 2024, Old Second Bancorp maintains a stable market capitalization of $636.81 million. The bank's P/E ratio stands at 7.13, suggesting that the stock is trading at a low earnings multiple, which could be an attractive point for value investors.
Old Second Bancorp's commitment to shareholder returns is evident through its consistent dividend payments over the past 9 years, with a current dividend yield of 1.4%. This dedication to returning value to shareholders is a positive sign and aligns with the InvestingPro Tip highlighting the company's high shareholder yield.
Additionally, with a PEG ratio of 0.54, the bank's share price growth potential appears to be undervalued relative to its near-term earnings growth, providing another intriguing point for potential investors to consider. This aligns with another InvestingPro Tip that points out the stock is trading at a low P/E ratio relative to near-term earnings growth.
For those interested in a deeper dive into Old Second Bancorp's financial health and future prospects, InvestingPro offers a wealth of additional insights. There are 6 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/OSBC. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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