John Ladowicz, a director at Old Second Bancorp Inc. (NASDAQ:OSBC), recently sold 13,888 shares of the company's common stock. The shares were sold at a weighted average price of $18.2673, resulting in a total transaction value of approximately $253,696. Following this sale, Ladowicz holds 175,304 shares indirectly through an IRA and 32,931 shares directly, which includes 22,490 shares in his name outright and 10,441 restricted stock units.
In other recent news, Old Second Bancorp has reported strong Q3 2024 results, with a net income of $23 million, or $0.50 per diluted share. The company's financial health was further underscored by a return on assets of 1.63% and a return on average tangible common equity of 17.14%. The company also announced a 20% increase in its common dividend, a move reflective of its robust profitability.
On the growth front, Old Second Bancorp has indicated a focus on liquidity management and capital building, with plans to enhance commercial loan origination capabilities. The company is also expecting the closure of a branch acquisition in early December, which is anticipated to bolster deposits.
However, Old Second Bancorp has expressed caution regarding future interest rate cuts and market volatility. Despite challenges including a recent $14 million non-performing loan and a competitive deposit pricing environment, the company remains optimistic about its mid-single-digit organic loan growth and projects expense growth of 3-5% next year, primarily driven by salaries and benefits. These recent developments underline Old Second Bancorp's strategic efforts to maintain a stable long-term balance sheet while exploring growth opportunities.
InvestingPro Insights
The recent insider sale by John Ladowicz at Old Second Bancorp Inc. (NASDAQ:OSBC) comes at a time when the company's stock is performing strongly. According to InvestingPro data, OSBC has seen significant returns over various timeframes, with a 20.26% return over the last month and a 21.83% return over the last three months. This upward trend is further supported by the stock trading near its 52-week high, currently at 98.08% of that peak.
Despite the insider sale, there are positive indicators for OSBC. An InvestingPro Tip highlights that 4 analysts have revised their earnings upwards for the upcoming period, suggesting confidence in the company's financial performance. Additionally, OSBC has maintained dividend payments for 9 consecutive years, with a current dividend yield of 1.29% and a notable dividend growth of 20.0% over the last twelve months.
The company's financial health appears solid, with a P/E ratio of 9.8, indicating a potentially undervalued stock compared to its earnings. OSBC's revenue for the last twelve months stands at $264.07 million, with an impressive operating income margin of 44.25%.
For investors seeking more comprehensive analysis, InvestingPro offers additional insights with 11 more tips available for OSBC, providing a deeper understanding of the company's financial position and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.