Old Second Bancorp Inc. (OSBC) Expected to Post Earnings of $0.30 Per Share

Equities research analysts forecast that Old Second Bancorp Inc. (NASDAQ:OSBC) will report earnings per share of $0.30 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Old Second Bancorp’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.29. Old Second Bancorp reported earnings per share of $0.27 during the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The company is expected to announce 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 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’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.07). The business had revenue of $31.77 million during 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 issued reports on the company. BidaskClub upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Zacks Investment Research upgraded Old Second Bancorp from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Thursday, September 27th. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $18.00 target price on shares of Old Second Bancorp in a research note on Friday, July 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $17.50.

A number of hedge funds have recently bought and sold shares of OSBC. HRT Financial LLC bought a new stake in shares of Old Second Bancorp during the second quarter valued at about $173,000. Hartford Investment Management Co. bought a new stake in shares of Old Second Bancorp during the second quarter valued at about $183,000. Atria Investments LLC bought a new stake in shares of Old Second Bancorp during the third quarter valued at about $285,000. Bank of America Corp DE raised its stake 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 valued at $327,000 after purchasing an additional 15,365 shares in the last quarter. Finally, WBI Investments Inc. bought a new stake in shares of Old Second Bancorp during the second quarter valued at about $366,000. Institutional investors own 69.87% of the company’s stock.

OSBC stock traded down $0.15 during mid-day trading on Friday, reaching $14.55. The company had a trading volume of 164,359 shares, compared to its average volume of 87,445. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $459.59 million, a price-to-earnings ratio of 17.96, a PEG ratio of 1.94 and a beta of 0.64. Old Second Bancorp has a one year low of $12.15 and a one year high of $16.30.

Old Second Bancorp Company Profile

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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Earnings History and Estimates for Old Second Bancorp (NASDAQ:OSBC)

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