BidaskClub Lowers Old Second Bancorp (NASDAQ:OSBC) to Sell

BidaskClub cut shares of Old Second Bancorp (NASDAQ:OSBC) from a hold rating to a sell rating in a research report sent to investors on Thursday, BidAskClub reports.

A number of other research firms also recently issued reports on OSBC. 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. Raymond James set a $14.00 target price on shares of Old Second Bancorp and gave the company a buy rating in a research report on Thursday, August 29th. Finally, ValuEngine upgraded shares of Old Second Bancorp from a sell rating to a hold rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $14.00.

Shares of Old Second Bancorp stock traded up $0.11 during trading on Thursday, reaching $11.94. 46,360 shares of the company traded hands, compared to its average volume of 79,387. 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 $11.24 and a 1-year high of $15.46. The company has a 50 day moving average price of $12.15 and a 200-day moving average price of $12.63. The firm has a market capitalization of $353.68 million, a PE ratio of 10.66 and a beta of 1.03.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.31. Old Second Bancorp had a net margin of 24.90% and a return on equity of 15.20%. The company had revenue of $32.90 million for the quarter, compared to the consensus estimate of $32.60 million. Equities research analysts expect that Old Second Bancorp will post 1.2 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in Old Second Bancorp by 8.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,993 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 1,600 shares in the last quarter. Maltese Capital Management LLC increased its stake in Old Second Bancorp by 16.9% during the 2nd quarter. Maltese Capital Management LLC now owns 693,802 shares of the financial services provider’s stock valued at $8,860,000 after purchasing an additional 100,502 shares in the last quarter. Acadian Asset Management LLC increased its stake in Old Second Bancorp by 18.4% during the 2nd quarter. Acadian Asset Management LLC now owns 43,004 shares of the financial services provider’s stock valued at $549,000 after purchasing an additional 6,673 shares in the last quarter. Bessemer Group Inc. increased its stake in Old Second Bancorp by 3.7% during the 2nd quarter. Bessemer Group Inc. now owns 47,600 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Comerica Bank increased its stake in Old Second Bancorp by 18.2% during the 2nd quarter. Comerica Bank now owns 91,901 shares of the financial services provider’s stock valued at $1,149,000 after purchasing an additional 14,146 shares in the last quarter. Institutional investors and hedge funds 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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