Zacks: Analysts Anticipate Old Second Bancorp Inc. (NASDAQ:OSBC) Will Post Quarterly Sales of $33.15 Million

Wall Street brokerages expect Old Second Bancorp Inc. (NASDAQ:OSBC) to post sales of $33.15 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Old Second Bancorp’s earnings. The lowest sales estimate is $33.00 million and the highest is $33.30 million. Old Second Bancorp posted sales of $31.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.1%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, October 23rd.

On average, analysts expect that Old Second Bancorp will report full-year sales of $130.50 million for the current year, with estimates ranging from $130.00 million to $131.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $131.40 million, with estimates ranging from $128.80 million to $134.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Old Second Bancorp.

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

Several equities research analysts have recently weighed in on the stock. 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. ValuEngine upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Raymond James set a $14.00 price objective on shares of Old Second Bancorp and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, BidaskClub cut shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.00.

NASDAQ OSBC traded up $0.10 on Friday, hitting $12.24. The company’s stock had a trading volume of 3,408 shares, compared to its average volume of 70,514. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.44. Old Second Bancorp has a 1-year low of $11.24 and a 1-year high of $15.08. The company’s 50-day moving average is $12.18 and its 200 day moving average is $12.56. The firm has a market cap of $363.84 million, a PE ratio of 10.89 and a beta of 1.03.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 25th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Thursday, October 24th. Old Second Bancorp’s dividend payout ratio (DPR) is presently 3.57%.

Several institutional investors and hedge funds have recently bought and sold shares of OSBC. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Old Second Bancorp by 8.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,993 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 1,600 shares during the period. Bessemer Group Inc. grew its holdings in Old Second Bancorp by 3.7% in the second quarter. Bessemer Group Inc. now owns 47,600 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 1,700 shares during the period. Zebra Capital Management LLC grew its holdings in Old Second Bancorp by 17.5% in the second quarter. Zebra Capital Management LLC now owns 12,411 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 1,852 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Old Second Bancorp by 2.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 71,349 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 1,968 shares during the period. Finally, Bank of Montreal Can grew its holdings in Old Second Bancorp by 299.8% in the second quarter. Bank of Montreal Can now owns 3,198 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 2,398 shares during the period. Institutional investors own 69.39% 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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Earnings History and Estimates for Old Second Bancorp (NASDAQ:OSBC)

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