Gary S. Collins, Vice Chairman of Old Second Bancorp Inc. (NASDAQ:OSBC), recently sold a notable amount of company stock, transactions that were filed with the Securities and Exchange Commission. According to the latest Form 4 filing, Collins sold a total of 40,267 shares of Old Second Bancorp at prices ranging from $14.48 to $14.57 per share, amounting to over $586,000.
The transactions occurred on two consecutive days, with 15,000 shares sold at $14.55 each, 22,267 shares at $14.57 each, and another batch of 3,000 shares disposed of at $14.48 per share. Following these sales, Collins still holds a significant number of shares in the company, which indicates a continued vested interest in Old Second Bancorp's performance.
Investors often monitor insider transactions as they can provide insights into how executives perceive the company's valuation and future prospects. While the sales represent a substantial cash-out by Collins, the remaining ownership suggests confidence in the long-term value of the bank.
Old Second Bancorp, headquartered in Aurora, Illinois, operates as a state commercial bank and is known for providing a range of banking services. The recent transactions by one of its top executives will likely be of interest to shareholders and potential investors as they assess the company's stock movements and insider confidence levels.
InvestingPro Insights
In light of Vice Chairman Gary S. Collins's recent stock sales, current and potential Old Second Bancorp Inc. (NASDAQ:OSBC) investors might look for deeper financial insights to better understand the company's valuation and performance. According to InvestingPro data, Old Second Bancorp has a market capitalization of $649.62 million, with a compelling price-to-earnings (P/E) ratio of 7.22, suggesting that the stock could be undervalued given its earnings potential. The company's P/E ratio slightly increased over the last twelve months as of Q1 2024, reaching 7.27.
Despite recent insider sales, an InvestingPro Tip indicates that Old Second Bancorp has maintained dividend payments for 9 consecutive years, which may be a sign of the company's commitment to returning value to shareholders. Additionally, the company has experienced a significant return over the last week, with a 7.89% total price return, pointing towards a positive short-term performance trend. This could align with another InvestingPro Tip highlighting that analysts predict the company will be profitable this year.
For investors seeking to delve deeper into Old Second Bancorp's financial metrics and gain additional insights, there are 8 more InvestingPro Tips available on the company. These tips can be accessed through the dedicated InvestingPro page for Old Second Bancorp at https://www.investing.com/pro/OSBC. To enrich your investment analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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