Old Second Bancorp (NASDAQ:OSBC) Announces Quarterly Earnings Results

Old Second Bancorp (NASDAQ:OSBC) released its earnings results on Thursday. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01), Yahoo Finance reports. The firm had revenue of $83.83 million during the quarter, compared to analyst estimates of $69.50 million. Old Second Bancorp had a return on equity of 16.78% and a net margin of 26.90%.

Old Second Bancorp Stock Performance

Shares of OSBC opened at $13.74 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. Old Second Bancorp has a 52-week low of $10.79 and a 52-week high of $16.76. The company has a 50-day simple moving average of $13.49 and a 200-day simple moving average of $14.17. The company has a market capitalization of $615.55 million, a PE ratio of 6.97 and a beta of 1.10.

Old Second Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.46%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 10.15%.

Institutional Trading of Old Second Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Old Second Bancorp during the 2nd quarter valued at approximately $48,000. Tower Research Capital LLC TRC grew its holdings in shares of Old Second Bancorp by 281.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,033 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 5,925 shares during the period. State of Wyoming increased its stake in Old Second Bancorp by 190.3% in the 4th quarter. State of Wyoming now owns 10,144 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 6,650 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Old Second Bancorp during the fourth quarter worth $168,000. Finally, UBS Group AG boosted its position in Old Second Bancorp by 140.8% during the second quarter. UBS Group AG now owns 11,068 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 6,471 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James upgraded shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research report on Thursday, April 4th.

About Old Second Bancorp

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.