Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives $21.63 Consensus Target Price from Brokerages

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $21.6250.

Several brokerages have recently weighed in on OSBC. Keefe, Bruyette & Woods upped their price target on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 25th.

Insider Activity

In other news, insider Darin Patrick Campbell sold 31,159 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $17.89, for a total value of $557,434.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OSBC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Old Second Bancorp by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 1,067 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Old Second Bancorp by 74.3% during the 1st 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 in the last quarter. Empowered Funds LLC lifted its stake in shares of Old Second Bancorp by 38.7% in the 1st quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider’s stock valued at $2,794,000 after purchasing an additional 46,890 shares during the period. Jane Street Group LLC acquired a new position in shares of Old Second Bancorp in the 1st quarter valued at $1,378,000. Finally, Strs Ohio purchased a new stake in Old Second Bancorp during the first quarter worth $88,000. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Stock Performance

Old Second Bancorp stock opened at $20.66 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $1.09 billion, a P/E ratio of 13.68 and a beta of 0.82. Old Second Bancorp has a 1-year low of $14.14 and a 1-year high of $21.10. The company’s 50-day moving average is $19.55 and its 200 day moving average is $18.51.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $95.88 million during the quarter, compared to analyst estimates of $80.45 million. Old Second Bancorp had a return on equity of 12.34% and a net margin of 18.89%. Research analysts forecast that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Friday, October 31st were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. Old Second Bancorp’s payout ratio is 18.54%.

Old Second Bancorp Company Profile

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.