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

by · The Markets Daily

Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Free Report) has been given a consensus recommendation of “Buy” by the five ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $20.70.

Several research analysts have recently commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $24.50 price objective (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Finally, DA Davidson raised their price objective on shares of Old Second Bancorp from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, July 25th.

Get Our Latest Research Report on OSBC

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OSBC. EverSource Wealth Advisors LLC lifted its stake 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 acquiring an additional 1,215 shares during the last quarter. Strs Ohio purchased a new position in Old Second Bancorp in the first quarter worth approximately $88,000. GAMMA Investing LLC lifted its stake in Old Second Bancorp by 4,125.0% in the first quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 5,280 shares during the last quarter. Quarry LP lifted its stake in Old Second Bancorp by 145.5% in the first quarter. Quarry LP now owns 5,802 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 3,439 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Old Second Bancorp by 446.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,306 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 5,153 shares during the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Trading Down 1.2%

Shares of OSBC stock opened at $18.04 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $949.81 million, a PE ratio of 9.86 and a beta of 0.85. The company has a 50-day moving average of $18.01 and a two-hundred day moving average of $17.05. Old Second Bancorp has a 1-year low of $14.14 and a 1-year high of $19.46.

Old Second Bancorp (NASDAQ:OSBC – Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Old Second Bancorp had a net margin of 24.38% and a return on equity of 12.53%. The business had revenue of $75.13 million during the quarter, compared to analysts’ expectations of $63.58 million. On average, analysts predict that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Monday, August 4th. Stockholders of record on Friday, July 25th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a dividend yield of 130.0%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 13.11%.

About Old Second Bancorp

(Get Free Report)

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.

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