Old Second Bancorp, Inc. (OSBC) Downgraded by Zacks Investment Research
Old Second Bancorp, Inc. (NASDAQ:OSBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Old Second Bancorp Inc.’s full service banking businesses include the customary consumer and commercial products and services which banks provide. The following services are included: demand, savings, time deposit, individual retirement and Keogh deposit accounts; commercial, industrial, consumer and real estate lending, including installment loans, student loans, farm loans, lines of credit and overdraft checking; safe deposit operations; trust services; and an extensive variety of additional services tailored to the needs of individual customers. “
Other equities analysts have also issued research reports about the stock. BidaskClub raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. ValuEngine raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $11.50 price target on shares of Old Second Bancorp in a research report on Thursday, July 27th. Finally, DA Davidson initiated coverage on shares of Old Second Bancorp in a research report on Friday, September 1st. They set a “neutral” rating and a $13.00 price target for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Old Second Bancorp presently has an average rating of “Buy” and an average price target of $12.17.
Old Second Bancorp (NASDAQ OSBC) traded down 0.46% during trading on Friday, hitting $10.80. 74,472 shares of the company were exchanged. The company has a 50-day moving average of $11.49 and a 200-day moving average of $11.46. Old Second Bancorp has a 12 month low of $7.45 and a 12 month high of $12.75. The company has a market capitalization of $319.97 million, a price-to-earnings ratio of 17.42 and a beta of 1.33.
In other news, Director William Kane sold 10,000 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $11.98, for a total value of $119,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward Bonifas acquired 3,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $11.58 per share, with a total value of $34,740.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 5,550 shares of company stock valued at $62,594 and sold 12,000 shares valued at $143,660. 3.60% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in OSBC. ClariVest Asset Management LLC increased its position in shares of Old Second Bancorp by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 9,703 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 496 shares in the last quarter. Menta Capital LLC acquired a new stake in shares of Old Second Bancorp in the first quarter worth $141,000. Ameritas Investment Partners Inc. increased its position in shares of Old Second Bancorp by 440.1% in the second quarter. Ameritas Investment Partners Inc. now owns 12,282 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 10,008 shares in the last quarter. Virtu KCG Holdings LLC acquired a new stake in shares of Old Second Bancorp in the second quarter worth $161,000. Finally, Prudential Financial Inc. increased its position in shares of Old Second Bancorp by 7.4% in the first quarter. Prudential Financial Inc. now owns 16,040 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 1,100 shares in the last quarter. 65.55% of the stock is owned by institutional investors.
About Old Second Bancorp
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Old Second Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Second Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.