Old Second Bancorp’s (OSBC) Overweight Rating Reiterated at Stephens

Stephens reiterated their overweight rating on shares of Old Second Bancorp (NASDAQ:OSBC) in a report published on Friday morning, Benzinga reports. Stephens currently has a $17.00 price target on the financial services provider’s stock.

Separately, Raymond James raised Old Second Bancorp from an outperform rating to a strong-buy rating and set a $17.00 price objective for the company in a research report on Thursday, April 4th.

Old Second Bancorp Stock Up 5.0 %

OSBC opened at $14.43 on Friday. Old Second Bancorp has a 1-year low of $10.79 and a 1-year high of $16.76. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $646.46 million, a price-to-earnings ratio of 7.32 and a beta of 1.10. The business has a 50 day moving average of $13.51 and a 200-day moving average of $14.19.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%. The business had revenue of $83.83 million during the quarter, compared to the consensus estimate of $69.50 million. As a group, sell-side analysts anticipate that Old Second Bancorp will post 1.88 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Friday, April 26th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.20 annualized dividend and a yield of 1.39%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 10.15%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in Old Second Bancorp by 476.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 157,496 shares of the financial services provider’s stock worth $2,432,000 after purchasing an additional 130,158 shares during the period. Eagle Asset Management Inc. bought a new position in Old Second Bancorp in the third quarter worth $1,564,000. Great Lakes Advisors LLC lifted its position in Old Second Bancorp by 148.5% in the third quarter. Great Lakes Advisors LLC now owns 172,342 shares of the financial services provider’s stock worth $2,346,000 after purchasing an additional 103,002 shares during the period. OLD Second National Bank of Aurora bought a new position in Old Second Bancorp in the third quarter worth $4,045,000. Finally, Swiss National Bank lifted its position in Old Second Bancorp by 0.9% in the third quarter. Swiss National Bank now owns 98,100 shares of the financial services provider’s stock worth $1,335,000 after purchasing an additional 900 shares during the period. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.