Old Second Bancorp Inc. (NASDAQ:OSBC) Receives $11.00 Average PT from Analysts

Old Second Bancorp Inc. (NASDAQ:OSBC) has received an average recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $11.00.

A number of research firms have issued reports on OSBC. Raymond James increased their target price on shares of Old Second Bancorp from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Piper Sandler upped their target price on Old Second Bancorp from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Zacks Investment Research upgraded shares of Old Second Bancorp from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Tuesday, June 30th. BidaskClub raised shares of Old Second Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 7th. Finally, ValuEngine downgraded shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 30th.

NASDAQ:OSBC opened at $8.32 on Tuesday. The business’s fifty day moving average price is $7.65 and its 200 day moving average price is $8.85. The firm has a market capitalization of $246.18 million, a price-to-earnings ratio of 8.08 and a beta of 1.49. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.36. Old Second Bancorp has a 1-year low of $5.96 and a 1-year high of $13.77.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.16. The company had revenue of $33.40 million for the quarter, compared to analysts’ expectations of $30.95 million. Old Second Bancorp had a return on equity of 14.21% and a net margin of 21.03%. Equities analysts forecast that Old Second Bancorp will post 0.99 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Friday, July 31st will be issued a $0.01 dividend. The ex-dividend date is Thursday, July 30th. This represents a $0.04 annualized dividend and a yield of 0.48%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 3.08%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Old Second Bancorp by 10.5% in the 4th quarter. Bank of America Corp DE now owns 18,124 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 1,727 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Old Second Bancorp by 29.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,944 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 2,008 shares during the period. SG Americas Securities LLC increased its holdings in Old Second Bancorp by 26.1% during the 1st quarter. SG Americas Securities LLC now owns 10,312 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 2,132 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Old Second Bancorp by 104.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 4,466 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 2,279 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Old Second Bancorp by 4.4% in the 1st quarter. Wells Fargo & Company MN now owns 58,229 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 2,430 shares during the period. Institutional investors and hedge funds own 71.82% 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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