Brokerages expect that Old Second Bancorp Inc. (NASDAQ:OSBC) will report sales of $27.70 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Old Second Bancorp’s earnings, with the lowest sales estimate coming in at $27.00 million and the highest estimate coming in at $28.40 million. Old Second Bancorp reported sales of $25.94 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.8%. The company is expected to report its next quarterly earnings results on Monday, March 12th.
On average, analysts expect that Old Second Bancorp will report full-year sales of $27.70 million for the current fiscal year, with estimates ranging from $105.60 million to $109.20 million. For the next year, analysts anticipate that the company will post sales of $126.90 million per share, with estimates ranging from $117.20 million to $136.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Old Second Bancorp.
Several analysts recently commented on the stock. ValuEngine cut shares of Old Second Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 5th. BidaskClub cut shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Zacks Investment Research upgraded shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating and set a $16.00 price target for the company in a report on Wednesday, October 25th. Keefe, Bruyette & Woods upgraded shares of Old Second Bancorp from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. Finally, Sandler O’Neill raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Old Second Bancorp has a consensus rating of “Buy” and an average price target of $13.17.
Old Second Bancorp (NASDAQ:OSBC) traded down $0.30 during mid-day trading on Friday, hitting $13.75. 51,076 shares of the company traded hands, compared to its average volume of 79,113. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $416.26, a PE ratio of 17.86, a P/E/G ratio of 1.92 and a beta of 0.72. Old Second Bancorp has a twelve month low of $10.10 and a twelve month high of $15.00.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Friday, January 26th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Thursday, January 25th. Old Second Bancorp’s payout ratio is presently 5.19%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC raised its position in Old Second Bancorp by 8.7% during the second quarter. Voya Investment Management LLC now owns 24,645 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 1,965 shares in the last quarter. Northern Trust Corp raised its position in Old Second Bancorp by 1.1% during the second quarter. Northern Trust Corp now owns 339,842 shares of the financial services provider’s stock valued at $3,925,000 after acquiring an additional 3,732 shares in the last quarter. Teachers Advisors LLC raised its position in Old Second Bancorp by 11.7% during the second quarter. Teachers Advisors LLC now owns 51,247 shares of the financial services provider’s stock valued at $592,000 after acquiring an additional 5,360 shares in the last quarter. LSV Asset Management raised its position in Old Second Bancorp by 19.7% during the fourth quarter. LSV Asset Management now owns 33,264 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 5,464 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Old Second Bancorp by 10.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 63,226 shares of the financial services provider’s stock valued at $864,000 after acquiring an additional 6,002 shares in the last quarter. 68.29% of the stock is currently owned by hedge funds and other institutional investors.
Old Second Bancorp Company Profile
Old Second Bancorp, Inc is a bank holding company. The Company conducts a full service community banking and trust business through its subsidiaries, including Old Second National Bank (the Bank), Old Second Capital Trust I, Old Second Capital Trust II and Old Second Affordable Housing Fund, LLC The Bank’s full service banking businesses include the customary consumer and commercial products and services that banking institutions provide, including demand, negotiable order of withdrawal, money market and individual retirement accounts; commercial, industrial, consumer and real estate lending, including installment loans, agricultural loans, lines of credit and overdraft checking; safe deposit operations, and a range of additional services tailored to the needs of individual customers, such as the acquisition of the United States Treasury notes and bonds, money orders, cashiers’ checks and foreign currency, direct deposit, debit cards, credit cards and other special services.
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