Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives $21.38 Consensus Target Price from Brokerages

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have received an average rating of “Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $21.3750.

Several research firms have weighed in on OSBC. Piper Sandler reissued an “overweight” rating and set a $24.50 price target (up previously from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Wednesday. Wall Street Zen downgraded Old Second Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Finally, DA Davidson raised their price objective on Old Second Bancorp from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, July 25th.

Old Second Bancorp Stock Performance

Old Second Bancorp stock opened at $17.27 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average of $17.74 and a two-hundred day moving average of $17.13. The company has a market capitalization of $909.27 million, a price-to-earnings ratio of 9.44 and a beta of 0.80. Old Second Bancorp has a fifty-two week low of $14.14 and a fifty-two week high of $19.46.

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

Old Second Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OSBC. Goldman Sachs Group Inc. raised its position in Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after purchasing an additional 630,265 shares during the period. Kennedy Capital Management LLC increased its holdings in Old Second Bancorp by 93.3% in the second quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider’s stock valued at $17,687,000 after buying an additional 481,302 shares during the last quarter. Nuveen LLC bought a new position in shares of Old Second Bancorp during the first quarter valued at approximately $5,593,000. Stieven Capital Advisors L.P. grew its holdings in shares of Old Second Bancorp by 74.3% during the first quarter. Stieven Capital Advisors L.P. now owns 716,228 shares of the financial services provider’s stock valued at $11,918,000 after purchasing an additional 305,420 shares during the last quarter. Finally, Davis Asset Management L.P. boosted its position in shares of Old Second Bancorp by 25.9% during the second quarter. Davis Asset Management L.P. now owns 1,384,502 shares of the financial services provider’s stock worth $24,561,000 after buying an additional 284,502 shares during the period. 67.76% of the stock is owned by hedge funds and other institutional investors.

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.