Old Second Bancorp (NASDAQ:OSBC) Earns Overweight Rating from Analysts at Stephens

Stephens assumed coverage on shares of Old Second Bancorp (NASDAQ:OSBC) in a research report report published on Friday morning, MarketBeat.com reports. The firm issued an overweight rating and a $23.00 target price on the financial services provider’s stock.

Several other equities analysts have also recently commented on OSBC. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. DA Davidson increased their price target on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Old Second Bancorp has an average rating of “Moderate Buy” and an average target price of $23.38.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC opened at $19.57 on Friday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 12.01 and a beta of 0.79. The stock’s fifty day moving average is $20.08 and its 200 day moving average is $19.22. Old Second Bancorp has a 52 week low of $14.14 and a 52 week high of $22.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $82.49 million. Old Second Bancorp had a net margin of 20.00% and a return on equity of 12.79%. Sell-side analysts forecast that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Darin Patrick Campbell sold 35,000 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total transaction of $732,900.00. Following the sale, the insider owned 274,589 shares in the company, valued at $5,749,893.66. The trade was a 11.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $20.98, for a total value of $41,960.00. Following the completion of the transaction, the executive vice president directly owned 24,874 shares of the company’s stock, valued at approximately $521,856.52. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 37,091 shares of company stock worth $776,744 in the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OSBC. Harbour Investments Inc. acquired a new stake in Old Second Bancorp during the 4th quarter worth approximately $26,000. Rockefeller Capital Management L.P. bought a new stake in Old Second Bancorp during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its position in 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 valued at $26,000 after acquiring an additional 1,215 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Old Second Bancorp during the third quarter valued at $30,000. Finally, Parkside Financial Bank & Trust bought a new position in shares of Old Second Bancorp during the fourth quarter valued at $45,000. 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.