In a recent transaction, Gary S. Collins, the Vice Chairman of Old Second Bancorp Inc. (NASDAQ:OSBC), sold 21,002.306 shares of the company's common stock. The transaction, dated May 8, 2024, was executed at a weighted average price of $14.2274 per share, with the total value of the sale amounting to approximately $298,808.
The shares were sold in multiple transactions with prices ranging from $14.21 to $14.29. This information is based on the weighted average price provided, and further details regarding the number of shares sold at each separate price within this range are available upon request.
Following the sale, Collins still holds a significant number of shares in the company. According to the filing, his direct holdings amount to 46,624 shares of Old Second Bancorp's common stock. Additionally, the filing notes indirect holdings in the form of 61,768.0850 shares held in an IRA and 5,894 shares by a 401-K plan. The total of these indirect holdings includes 41,000 shares in a ROTH IRA and 33,648.085 in a traditional IRA.
The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides transparency into the trading activities of a company's officers and directors. The signature on the document was by Shirley Cantrell, Attorney-in-Fact, indicating that she was authorized to file on behalf of Mr. Collins.
Investors often monitor insider transactions as they may provide insights into the company's financial health and the confidence that executives have in the company's future prospects. Insider sales and purchases are common and can be influenced by a variety of factors, including personal financial management.
InvestingPro Insights
Amidst the insider transactions at Old Second Bancorp Inc. (NASDAQ:OSBC), investors might be looking for additional data to gauge the company's current financial status and future prospects. According to InvestingPro, Old Second Bancorp is trading at a low P/E ratio of 7.16, which could indicate that the stock is undervalued relative to near-term earnings growth. The company's PEG ratio, which stands at 0.54 for the last twelve months as of Q1 2024, also suggests potential for growth that may not yet be fully recognized by the market.
Despite recent insider sales, Old Second Bancorp has maintained a consistent record of dividend payments, having done so for 9 consecutive years, with a current dividend yield of 1.4%. This commitment to returning value to shareholders is reflected in the company's high shareholder yield, a metric that combines dividend payments and share repurchases to show the total payout to shareholders.
Investors considering Old Second Bancorp may find it reassuring that analysts predict the company will remain profitable this year, as it has been over the last twelve months. The company's solid operating income margin of 47.04% further supports this outlook. For those seeking a deeper dive into the company's financials and performance, InvestingPro offers additional insights and tips. There are currently 6 more InvestingPro Tips available for Old Second Bancorp, which can be accessed at https://www.investing.com/pro/OSBC. To enhance your investment research, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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