Old Second Bancorp Inc. (NASDAQ:OSBC) Expected to Announce Quarterly Sales of $33.33 Million

Brokerages expect that Old Second Bancorp Inc. (NASDAQ:OSBC) will report $33.33 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Old Second Bancorp’s earnings, with the lowest sales estimate coming in at $33.00 million and the highest estimate coming in at $33.50 million. Old Second Bancorp reported sales of $31.55 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The business is expected to announce its next earnings report on Wednesday, October 23rd.

According to Zacks, analysts expect that Old Second Bancorp will report full-year sales of $131.10 million for the current year, with estimates ranging from $130.00 million to $132.00 million. For the next financial year, analysts anticipate that the firm will report sales of $136.70 million, with estimates ranging from $135.00 million to $138.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. Old Second Bancorp had a net margin of 24.90% and a return on equity of 15.20%. The business had revenue of $32.90 million during the quarter, compared to analysts’ expectations of $32.60 million.



OSBC has been the subject of several analyst reports. Raymond James set a $15.00 target price on shares of Old Second Bancorp and gave the company a “buy” rating in a research report on Friday, July 26th. FIG Partners upgraded shares of Old Second Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, April 29th. BidaskClub cut shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Zacks Investment Research upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $14.50.

Old Second Bancorp stock traded up $0.29 during midday trading on Friday, hitting $12.07. The company’s stock had a trading volume of 55,400 shares, compared to its average volume of 62,973. The company has a 50-day moving average price of $12.60 and a two-hundred day moving average price of $13.09. The company has a market cap of $360.85 million, a price-to-earnings ratio of 10.78, a PEG ratio of 1.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.88 and a quick ratio of 0.88. Old Second Bancorp has a 1-year low of $11.32 and a 1-year high of $15.75.

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 26th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Thursday, July 25th. Old Second Bancorp’s payout ratio is presently 3.57%.

Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can grew its holdings in shares of Old Second Bancorp by 299.8% during the 2nd quarter. Bank of Montreal Can now owns 3,198 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 2,398 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Old Second Bancorp during the 1st quarter valued at approximately $60,000. Aperio Group LLC bought a new stake in shares of Old Second Bancorp during the 2nd quarter valued at approximately $66,000. Meeder Asset Management Inc. grew its holdings in shares of Old Second Bancorp by 41.2% during the 1st quarter. Meeder Asset Management Inc. now owns 5,633 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Kavar Capital Partners LLC bought a new stake in shares of Old Second Bancorp during the 2nd quarter valued at approximately $77,000. 68.01% of the stock is currently owned by institutional investors.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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

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