FIG Partners Weighs in on Old Second Bancorp, Inc.’s FY2017 Earnings (OSBC)
Old Second Bancorp, Inc. (NASDAQ:OSBC) – FIG Partners raised their FY2017 EPS estimates for shares of Old Second Bancorp in a note issued to investors on Monday. FIG Partners analyst B. Martin now forecasts that the financial services provider will post earnings per share of $0.80 for the year, up from their previous forecast of $0.75. FIG Partners also issued estimates for Old Second Bancorp’s Q4 2017 earnings at $0.21 EPS, Q2 2018 earnings at $0.21 EPS, Q4 2018 earnings at $0.22 EPS and FY2018 earnings at $0.84 EPS.
OSBC has been the topic of a number of other reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $11.50 price target on shares of Old Second Bancorp in a research note on Thursday, July 27th. BidaskClub upgraded shares of Old Second Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Zacks Investment Research upgraded shares of Old Second Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Saturday, September 9th. DA Davidson initiated coverage on shares of Old Second Bancorp in a research note on Friday, September 1st. They issued a “neutral” rating and a $13.00 price target on the stock. Finally, ValuEngine downgraded shares of Old Second Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $12.17.
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Old Second Bancorp (NASDAQ OSBC) opened at 13.90 on Tuesday. Old Second Bancorp has a 52 week low of $7.65 and a 52 week high of $14.90. The firm has a 50 day moving average of $12.67 and a 200-day moving average of $11.91. The company has a market capitalization of $411.82 million, a P/E ratio of 22.42 and a beta of 1.37.
Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. Old Second Bancorp had a net margin of 16.82% and a return on equity of 10.30%.
Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. boosted its position in Old Second Bancorp by 440.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,282 shares of the financial services provider’s stock worth $141,000 after buying an additional 10,008 shares during the period. Menta Capital LLC bought a new position in Old Second Bancorp during the 1st quarter worth approximately $141,000. Virtu KCG Holdings LLC bought a new position in Old Second Bancorp during the 2nd quarter worth approximately $161,000. Prudential Financial Inc. raised its holdings in Old Second Bancorp by 7.4% during the 1st quarter. Prudential Financial Inc. now owns 16,040 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 1,100 shares during the last quarter. Finally, American International Group Inc. raised its holdings in Old Second Bancorp by 7.1% during the 1st quarter. American International Group Inc. now owns 17,704 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 1,175 shares during the last quarter. Institutional investors and hedge funds own 65.60% of the company’s stock.
In related news, Director John Ladowicz sold 8,450 shares of Old Second Bancorp stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $12.11, for a total transaction of $102,329.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward Bonifas bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were acquired at an average price of $11.58 per share, for a total transaction of $34,740.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 5,550 shares of company stock worth $62,594 and have sold 50,350 shares worth $609,088. 3.60% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Friday, October 27th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, October 26th. This represents a $0.04 annualized dividend and a yield of 0.29%. Old Second Bancorp’s dividend payout ratio is presently 6.45%.
About Old Second Bancorp
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