Old Second Bancorp, Inc. (NASDAQ:OSBC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have received a consensus rating of “Buy” from the six brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $21.6250.

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Wednesday, October 8th. DA Davidson boosted their price target on Old Second Bancorp from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, Wall Street Zen upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th.

Institutional Investors Weigh In On Old Second Bancorp

Several institutional investors have recently made changes to their positions in OSBC. EverSource Wealth Advisors LLC boosted its stake in shares of Old Second Bancorp by 458.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,215 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Old Second Bancorp in the third quarter valued at approximately $30,000. Mather Group LLC. bought a new stake in Old Second Bancorp during the third quarter worth $67,000. Strs Ohio bought a new stake in Old Second Bancorp during the first quarter worth $88,000. Finally, Quarry LP lifted its stake in Old Second Bancorp by 145.5% during the first quarter. Quarry LP now owns 5,802 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 3,439 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

Old Second Bancorp Trading Down 0.9%

Shares of NASDAQ:OSBC opened at $18.16 on Friday. Old Second Bancorp has a 12-month low of $14.14 and a 12-month high of $19.46. The stock has a market cap of $956.12 million, a PE ratio of 12.03 and a beta of 0.80. The business has a 50 day moving average of $17.93 and a 200-day moving average of $17.36. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. Old Second Bancorp had a return on equity of 13.10% and a net margin of 18.89%.The company had revenue of $95.88 million during the quarter, compared to analysts’ expectations of $80.45 million. As a group, equities research analysts forecast that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 31st will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, October 31st. Old Second Bancorp’s payout ratio is 15.89%.

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.