Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives Average Recommendation of “Buy” from Brokerages

Old Second Bancorp, Inc. (NASDAQ:OSBC) has been given a consensus rating of “Buy” by the six research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $21.3750.

Several research analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $24.50 price target (up from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. DA Davidson increased their price target on shares of Old Second Bancorp from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, October 4th.

Old Second Bancorp Price Performance

Shares of Old Second Bancorp stock opened at $17.05 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50-day simple moving average is $17.75 and its 200-day simple moving average is $17.14. Old Second Bancorp has a twelve month low of $14.14 and a twelve month high of $19.46. The firm has a market cap of $897.68 million, a P/E ratio of 9.32 and a beta of 0.80.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Old Second Bancorp had a net margin of 24.38% and a return on equity of 12.53%. The business had revenue of $75.13 million for the quarter, compared to analyst estimates of $63.58 million. As a group, research analysts expect that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently declared a special dividend, which was paid on Monday, August 4th. Stockholders of record on Friday, July 25th were given a $0.06 dividend. The ex-dividend date was Friday, July 25th. This represents a dividend yield of 130.0%. Old Second Bancorp’s payout ratio is 13.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,215 shares during the period. Strs Ohio acquired a new position in shares of Old Second Bancorp in the 1st quarter worth approximately $88,000. GAMMA Investing LLC increased its stake in shares of Old Second Bancorp by 4,125.0% in the 1st quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 5,280 shares in the last quarter. Quarry LP increased its stake in Old Second Bancorp by 145.5% during the 1st quarter. Quarry LP now owns 5,802 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 3,439 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Old Second Bancorp by 446.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,306 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 5,153 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.