Stephens Begins Coverage on Old Second Bancorp (NASDAQ:OSBC)

Stephens initiated coverage on shares of Old Second Bancorp (NASDAQ:OSBC) in a report released on Friday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $23.00 price target on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 17.53% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on OSBC. DA Davidson raised their target price on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Old Second Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $23.38.

Old Second Bancorp Price Performance

OSBC opened at $19.57 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $1.03 billion, a P/E ratio of 12.01 and a beta of 0.79. The company’s 50-day simple moving average is $20.08 and its two-hundred day simple moving average is $19.21. Old Second Bancorp has a 52-week low of $14.14 and a 52-week high of $22.00.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Old Second Bancorp had a net margin of 20.00% and a return on equity of 12.79%. The firm had revenue of $95.20 million during the quarter, compared to analyst estimates of $82.49 million. As a group, analysts predict that Old Second Bancorp will post 1.86 EPS for the current year.

Insider Buying and Selling

In related news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $20.98, for a total value of $41,960.00. Following the transaction, the executive vice president owned 24,874 shares of the company’s stock, valued at approximately $521,856.52. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Darin Patrick Campbell sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total transaction of $732,900.00. Following the sale, the insider directly owned 274,589 shares of the company’s stock, valued at approximately $5,749,893.66. This represents a 11.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 37,091 shares of company stock worth $776,744. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Old Second Bancorp

A number of hedge funds have recently modified their holdings of OSBC. Harbour Investments Inc. bought a new position in Old Second Bancorp in the 4th quarter worth $26,000. Rockefeller Capital Management L.P. purchased a new position in Old Second Bancorp during the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC grew its holdings in Old Second Bancorp by 458.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,215 shares during the period. State of Alaska Department of Revenue bought a new stake in Old Second Bancorp during the third quarter valued at about $30,000. Finally, Parkside Financial Bank & Trust purchased a new stake in Old Second Bancorp in the fourth quarter worth about $45,000. Institutional investors own 67.76% of the company’s stock.

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.