Old Second Bancorp (NASDAQ:OSBC) Raised to Hold at Wall Street Zen

Old Second Bancorp (NASDAQ:OSBC) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Friday.

Several other equities research analysts have also weighed in on OSBC. Piper Sandler reiterated an “overweight” rating and issued a $24.50 price objective (up from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. Stephens lowered their price objective on Old Second Bancorp from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods lowered their price objective on Old Second Bancorp from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Old Second Bancorp Trading Up 0.2%

Old Second Bancorp stock opened at $18.65 on Friday. The business has a 50 day moving average price of $17.43 and a two-hundred day moving average price of $17.23. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12. The stock has a market cap of $840.37 million, a price-to-earnings ratio of 10.19 and a beta of 0.81. Old Second Bancorp has a 12 month low of $14.14 and a 12 month high of $19.46.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). Old Second Bancorp had a net margin of 24.52% and a return on equity of 12.87%. The firm had revenue of $73.57 million during the quarter, compared to analyst estimates of $60.00 million. As a group, equities analysts forecast that Old Second Bancorp will post 1.86 EPS for the current year.

Institutional Investors Weigh In On Old Second Bancorp

A number of large investors have recently bought and sold shares of OSBC. Goldman Sachs Group Inc. grew its position in Old Second Bancorp by 74.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock worth $24,599,000 after acquiring an additional 630,265 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in Old Second Bancorp during the 4th quarter worth approximately $6,084,000. Nuveen LLC bought a new stake in Old Second Bancorp during the 1st quarter worth approximately $5,593,000. Stieven Capital Advisors L.P. boosted its position in Old Second Bancorp by 74.3% in the 1st quarter. Stieven Capital Advisors L.P. now owns 716,228 shares of the financial services provider’s stock valued at $11,918,000 after buying an additional 305,420 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Old Second Bancorp by 452.4% in the 4th quarter. Millennium Management LLC now owns 308,223 shares of the financial services provider’s stock valued at $5,480,000 after buying an additional 252,430 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

About Old Second Bancorp

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.