Outdated Second Bancorp director Temple Rocks purchases $100,067 in inventory

Temple Rocks, a director at Outdated Second Bancorp Inc. (NASDAQ:OSBC), has lately acquired 5,625 shares of the corporate’s frequent inventory. The regional financial institution, at the moment valued at $795.7 million, has demonstrated robust momentum with a 25.3% worth return over the previous six months and maintains a GREAT monetary well being rating in response to InvestingPro evaluation. The acquisition, which befell on December 23, 2024, was executed at a worth of $17.7898 per share, amounting to a complete transaction worth of $100,067. The transaction worth sits close to the inventory’s 52-week excessive of $19.37, with shares buying and selling at a pretty P/E ratio of 9.45. Following this acquisition, Rocks now holds a complete of 24,635 shares, together with 7,421 shares in her title and 6,773 shares of restricted inventory items. InvestingPro subscribers can entry 7 extra key insights and a complete Professional Analysis Report about OSBC’s valuation and future prospects.

In different latest information, Outdated Second Bancorp has been making vital strides within the monetary sector. The corporate reported strong monetary outcomes for the third quarter of 2024, with a web earnings of $23 million. Moreover, Outdated Second Bancorp introduced a 20% enhance in its frequent dividend, signaling confidence in its monetary efficiency.

The corporate’s latest acquisition of 5 branches in Southeast Chicago, including roughly $275 million in deposits, demonstrates its efficient execution of market share growth methods. Raymond (NS:RYMD) James upgraded Outdated Second Bancorp from Outperform to Sturdy Purchase, citing a resilient web curiosity margin, strategic market share positive aspects, and a positive financial outlook.

Outdated Second Bancorp additionally introduced a brand new inventory repurchase program approved by its Board of Administrators, underneath which it might purchase again as much as $39.1 million of its frequent inventory. This transfer is a part of the corporate’s capital administration technique and displays its dedication to enhancing shareholder worth.

Regardless of some challenges, together with a latest $14 million non-performing mortgage identification, these are the latest developments for Outdated Second Bancorp. The corporate goals for mid-single-digit natural mortgage progress and initiatives expense progress of 3-5% subsequent yr, primarily pushed by salaries and advantages.

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