Temple Rocks, a director of Outdated Second Bancorp Inc. (NASDAQ:), not too long ago acquired 5,625 shares of the corporate’s frequent inventory. The regional financial institution, presently valued at $795.7 million, has demonstrated robust momentum with a worth return of 25.3% over the previous six months and maintains an EXCELLENT monetary well being rating in accordance with InvestPro evaluation. The acquisition, which occurred on December 23, 2024, was executed at a worth of $17.7898 per share, for a complete transaction worth of $100,067. The transaction worth is close to the 52-week excessive of $19.37, with shares buying and selling at a pretty price-to-earnings ratio of 9.45. Following this acquisition, Rocks now holds a complete of 24,635 shares, together with 7,421 shares in its identify and 6,773 shares of restricted inventory. InvestPro Subscribers can entry 7 extra key insights and a complete skilled analysis report on OSBC’s valuation and future prospects.
Moreover, Outdated Second Bancorp has made important progress within the monetary sector. The corporate reported robust monetary outcomes for the third quarter of 2024, with internet revenue of $23 million. Moreover, Outdated Second Bancorp introduced a 20% enhance in its joint dividend, an indication of confidence in its monetary efficiency.
The corporate’s latest acquisition of 5 branches in Southeast Chicago, including roughly $275 million in deposits, demonstrates the efficient execution of its market share enlargement methods. Raymonde (NS:) James upgraded Outdated Second Bancorp from Outperform to Sturdy Purchase, citing resilient internet curiosity margin, strategic market share beneficial properties and favorable financial outlook.
Outdated Second Bancorp additionally introduced a brand new inventory repurchase program approved by its board of administrators, beneath which it could actually repurchase as much as $39.1 million of its frequent inventory. The transfer is a part of the corporate’s capital administration technique and displays its dedication to rising shareholder worth.
Regardless of some challenges, together with the latest identification of a $14 million non-performing mortgage, listed here are latest developments for Outdated Second Bancorp. The corporate is concentrating on single-digit natural mortgage development and expects spending development of three% to five% subsequent 12 months, pushed primarily by salaries and advantages.
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