Old Second Bancorp (NASDAQ:OSBC) Price Target Raised to $23.00

Old Second Bancorp (NASDAQ:OSBC) had its price objective upped by DA Davidson from $22.00 to $23.00 in a research report sent to investors on Friday morning, MarketBeat.com reports. DA Davidson currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their target price on Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Old Second Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $22.63.

Old Second Bancorp Stock Down 6.4%

Shares of OSBC opened at $19.90 on Friday. The firm has a fifty day moving average price of $19.79 and a 200-day moving average price of $18.57. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.05 billion, a P/E ratio of 12.21 and a beta of 0.82. Old Second Bancorp has a 12-month low of $14.14 and a 12-month high of $22.00.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Old Second Bancorp had a net margin of 20.00% and a return on equity of 13.36%. The company had revenue of $95.21 million during the quarter, compared to analyst estimates of $82.49 million. Equities research analysts expect that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Friday, January 30th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, January 30th. Old Second Bancorp’s payout ratio is 17.18%.

Insider Buying and Selling

In other Old Second Bancorp news, insider Darin Patrick Campbell sold 31,159 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $17.89, for a total value of $557,434.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is owned by insiders.

Institutional Trading of Old Second Bancorp

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in Old Second Bancorp by 458.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,215 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Old Second Bancorp in the third quarter worth about $30,000. Mather Group LLC. purchased a new stake in shares of Old Second Bancorp during the third quarter worth about $67,000. Nisa Investment Advisors LLC increased its holdings in shares of Old Second Bancorp by 12.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 540 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Old Second Bancorp in the 1st quarter valued at approximately $88,000. Institutional investors and hedge funds own 67.76% of the company’s stock.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.