Old Second Bancorp (NASDAQ:OSBC) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Old Second Bancorp (NASDAQ:OSBC) from a strong sell rating to a sell rating in a research note released on Saturday morning, BidAskClub reports.

Several other equities analysts have also issued reports on the company. Raymond James set a $14.00 target price on Old Second Bancorp and gave the stock a buy rating in a research note on Thursday, August 29th. Zacks Investment Research raised Old Second Bancorp from a sell rating to a hold rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Old Second Bancorp presently has an average rating of Hold and an average target price of $14.00.

OSBC opened at $12.82 on Friday. The stock’s 50-day moving average price is $12.16 and its 200 day moving average price is $12.77. Old Second Bancorp has a 12-month low of $11.24 and a 12-month high of $15.75. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.44. The firm has a market cap of $383.87 million, a price-to-earnings ratio of 11.45, a PEG ratio of 1.52 and a beta of 1.02.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Old Second Bancorp had a return on equity of 15.20% and a net margin of 24.90%. The firm had revenue of $32.90 million for the quarter, compared to analyst estimates of $32.60 million. On average, research analysts forecast that Old Second Bancorp will post 1.21 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Old Second Bancorp by 8.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,993 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 1,600 shares in the last quarter. Bessemer Group Inc. lifted its stake in Old Second Bancorp by 3.7% during the 2nd quarter. Bessemer Group Inc. now owns 47,600 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 1,700 shares in the last quarter. Zebra Capital Management LLC lifted its stake in Old Second Bancorp by 17.5% during the 2nd quarter. Zebra Capital Management LLC now owns 12,411 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 1,852 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Old Second Bancorp by 2.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 71,349 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 1,968 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Old Second Bancorp by 299.8% during the 2nd quarter. Bank of Montreal Can now owns 3,198 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 2,398 shares in the last quarter. 69.40% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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