Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Old Second Bancorp, Inc. (NASDAQ:OSBC) has received an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $23.50.

OSBC has been the subject of several recent analyst reports. Stephens initiated coverage on shares of Old Second Bancorp in a research report on Friday, March 27th. They set an “overweight” rating and a $23.00 price objective for the company. Piper Sandler reduced their price objective on shares of Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OSBC. Parallel Advisors LLC raised its holdings in shares of Old Second Bancorp by 181.3% in the 1st quarter. Parallel Advisors LLC now owns 2,622 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 1,690 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Old Second Bancorp by 67.8% in the 1st quarter. Janus Henderson Group PLC now owns 26,232 shares of the financial services provider’s stock worth $529,000 after acquiring an additional 10,597 shares during the last quarter. Amundi acquired a new stake in shares of Old Second Bancorp in the 1st quarter worth about $276,000. Empowered Funds LLC raised its holdings in shares of Old Second Bancorp by 6.1% in the 1st quarter. Empowered Funds LLC now owns 233,559 shares of the financial services provider’s stock worth $4,709,000 after acquiring an additional 13,438 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Old Second Bancorp by 58.8% in the 1st quarter. Quantinno Capital Management LP now owns 49,879 shares of the financial services provider’s stock worth $1,006,000 after acquiring an additional 18,461 shares during the last quarter. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Performance

Shares of OSBC stock opened at $22.50 on Friday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 13.39 and a beta of 0.71. Old Second Bancorp has a 52 week low of $16.42 and a 52 week high of $22.54. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $21.16 and a 200-day moving average of $20.41.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.03). The company had revenue of $93.77 million for the quarter, compared to analyst estimates of $94.80 million. Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%. On average, equities analysts forecast that Old Second Bancorp will post 2.16 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were issued a $0.07 dividend. The ex-dividend date was Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 1.2%. Old Second Bancorp’s dividend payout ratio is presently 16.67%.

Old Second Bancorp Company Profile

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.