Old Second Bancorp (NASDAQ:OSBC) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Old Second Bancorp (NASDAQ:OSBC) from a strong sell rating to a sell rating in a research note issued to investors on Saturday morning, BidAskClub reports.

Several other research analysts also recently weighed in on OSBC. Zacks Investment Research raised Old Second Bancorp from a sell rating to a hold rating in a research note on Thursday, July 25th. Raymond James set a $14.00 target price on Old Second Bancorp and gave the stock a buy rating in a research note on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $14.00.

Shares of OSBC stock opened at $12.82 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $383.87 million, a price-to-earnings ratio of 11.45, a PEG ratio of 1.52 and a beta of 1.02. The stock has a 50 day simple moving average of $12.16 and a 200-day simple moving average of $12.77. Old Second Bancorp has a 1-year low of $11.24 and a 1-year high of $15.75.



Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The business had revenue of $32.90 million during the quarter, compared to the consensus estimate of $32.60 million. Old Second Bancorp had a return on equity of 15.20% and a net margin of 24.90%. Analysts anticipate that Old Second Bancorp will post 1.21 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Banc Funds Co. LLC increased its position in shares of Old Second Bancorp by 5.7% during the second quarter. Banc Funds Co. LLC now owns 1,971,473 shares of the financial services provider’s stock worth $25,176,000 after purchasing an additional 105,446 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Old Second Bancorp by 1.7% during the second quarter. Renaissance Technologies LLC now owns 1,120,425 shares of the financial services provider’s stock worth $14,308,000 after purchasing an additional 18,500 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Old Second Bancorp by 9.5% during the second quarter. Russell Investments Group Ltd. now owns 796,771 shares of the financial services provider’s stock worth $10,175,000 after purchasing an additional 69,280 shares in the last quarter. Maltese Capital Management LLC increased its position in shares of Old Second Bancorp by 16.9% during the second quarter. Maltese Capital Management LLC now owns 693,802 shares of the financial services provider’s stock worth $8,860,000 after purchasing an additional 100,502 shares in the last quarter. Finally, Castine Capital Management LLC increased its position in shares of Old Second Bancorp by 34.9% during the second quarter. Castine Capital Management LLC now owns 637,098 shares of the financial services provider’s stock worth $8,136,000 after purchasing an additional 164,990 shares in the last quarter. Hedge funds and other institutional investors own 69.40% of the company’s stock.

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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