Zacks: Analysts Anticipate Old Second Bancorp Inc. (OSBC) to Announce $0.30 Earnings Per Share

Equities analysts forecast that Old Second Bancorp Inc. (NASDAQ:OSBC) will announce earnings of $0.30 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Old Second Bancorp’s earnings, with estimates ranging from $0.29 to $0.30. Old Second Bancorp reported earnings of $0.27 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The firm is expected to report its next quarterly earnings report on Tuesday, November 6th.

On average, analysts expect that Old Second Bancorp will report full-year earnings of $1.14 per share for the current financial year. For the next fiscal year, analysts anticipate that the company will post earnings of $1.26 per share, with EPS estimates ranging from $1.24 to $1.28. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.07). The business had revenue of $31.77 million for the quarter, compared to analyst estimates of $32.15 million. Old Second Bancorp had a return on equity of 15.63% and a net margin of 16.58%.

A number of equities research analysts have recently commented on the company. Sandler O’Neill reaffirmed a “buy” rating and set a $18.00 price target on shares of Old Second Bancorp in a research report on Friday, July 27th. BidaskClub raised Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, Zacks Investment Research lowered Old Second Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $17.50.

Shares of NASDAQ OSBC traded down $0.15 during mid-day trading on Friday, reaching $14.55. 164,359 shares of the company’s stock were exchanged, compared to its average volume of 87,445. The firm has a market cap of $459.59 million, a P/E ratio of 17.96, a P/E/G ratio of 1.94 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.83 and a quick ratio of 0.83. Old Second Bancorp has a twelve month low of $12.15 and a twelve month high of $16.30.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HRT Financial LLC acquired a new stake in shares of Old Second Bancorp during the second quarter worth about $173,000. Hartford Investment Management Co. bought a new position in shares of Old Second Bancorp during the second quarter worth about $183,000. Atria Investments LLC bought a new position in shares of Old Second Bancorp during the third quarter worth about $285,000. Bank of America Corp DE grew its holdings in shares of Old Second Bancorp by 208.4% during the second quarter. Bank of America Corp DE now owns 22,739 shares of the financial services provider’s stock worth $327,000 after buying an additional 15,365 shares in the last quarter. Finally, WBI Investments Inc. bought a new position in shares of Old Second Bancorp during the second quarter worth about $366,000. 69.87% of the stock is currently owned by institutional investors.

About Old Second Bancorp

Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank that provides a range of banking services. The company accepts demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers revolving lines of credit for working capital; lending for capital expenditures on manufacturing equipment; lending to small business manufactures, service companies, medical and dental entities, and specialty contractors; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage loans, second mortgage loans, and home equity line of credit mortgages; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans, as well as student loans; and overdraft checking.

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