Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have been given a consensus rating of “Moderate Buy” by the five research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $22.6250.

OSBC has been the subject of a number of recent research reports. Wall Street Zen upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. DA Davidson lifted their price target on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd.

Old Second Bancorp Stock Up 1.8%

Shares of Old Second Bancorp stock opened at $21.04 on Friday. Old Second Bancorp has a 12-month low of $14.14 and a 12-month high of $22.00. The company’s fifty day simple moving average is $20.15 and its two-hundred day simple moving average is $18.68. The company has a market cap of $1.11 billion, a P/E ratio of 12.91 and a beta of 0.82. 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 (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. The business had revenue of $95.21 million during the quarter, compared to analyst estimates of $82.49 million. Old Second Bancorp had a return on equity of 13.36% and a net margin of 20.00%. Research analysts anticipate that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 17.18%.

Insider Buying and Selling at Old Second Bancorp

In related news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $20.98, for a total transaction of $41,960.00. Following the completion of the sale, the executive vice president owned 24,874 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors have recently added to or reduced their stakes in OSBC. EverSource Wealth Advisors LLC grew its stake in shares of Old Second Bancorp by 458.5% in the 2nd 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 in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Old Second Bancorp in the 3rd quarter valued at about $30,000. Mather Group LLC. purchased a new position in Old Second Bancorp in the third quarter worth about $67,000. Danske Bank A S grew its position in Old Second Bancorp by 1,266.7% in the fourth quarter. Danske Bank A S now owns 4,100 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 3,800 shares in the last quarter. Finally, Strs Ohio bought a new stake in Old Second Bancorp during the first quarter worth approximately $88,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

About Old Second Bancorp

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.