Old Second Bancorp (NASDAQ:OSBC) Stock Price Expected to Rise, DA Davidson Analyst Says

Old Second Bancorp (NASDAQ:OSBC) had its target price boosted by DA Davidson from $22.00 to $23.00 in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price target suggests a potential upside of 15.58% from the stock’s current price.

Several other analysts have also commented on OSBC. Keefe, Bruyette & Woods raised their price objective on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Wall Street Zen upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Old Second Bancorp has an average rating of “Moderate Buy” and a consensus price target of $22.63.

Old Second Bancorp Stock Down 6.4%

Shares of Old Second Bancorp stock opened at $19.90 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12. Old Second Bancorp has a 12-month low of $14.14 and a 12-month high of $22.00. The company has a market cap of $1.05 billion, a P/E ratio of 12.21 and a beta of 0.82. The company’s fifty day simple moving average is $19.79 and its two-hundred day simple moving average is $18.57.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Old Second Bancorp had a net margin of 20.00% and a return on equity of 13.36%. The firm had revenue of $95.21 million during the quarter, compared to analysts’ expectations of $82.49 million. Research analysts anticipate that Old Second Bancorp will post 1.86 EPS for the current year.

Insider Buying and Selling at Old Second Bancorp

In related news, insider Darin Patrick Campbell sold 31,159 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $17.89, for a total value of $557,434.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Old Second Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in shares of Old Second Bancorp by 12.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 540 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Old Second Bancorp by 1.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 41,578 shares of the financial services provider’s stock worth $738,000 after purchasing an additional 757 shares in the last quarter. Hudson Edge Investment Partners Inc. grew its position in Old Second Bancorp by 1.4% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 60,674 shares of the financial services provider’s stock valued at $1,076,000 after purchasing an additional 840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 1,067 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in 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 worth $26,000 after buying an additional 1,215 shares during the last quarter. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.