Old Second Bancorp (NASDAQ:OSBC) Raised to Moderate Buy at Raymond James Financial

Old Second Bancorp (NASDAQ:OSBC) was upgraded by equities researchers at Raymond James Financial to a “moderate buy” rating in a report issued on Tuesday,Zacks.com reports.

OSBC has been the subject of a number of other reports. Piper Sandler boosted their price target on Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Stephens started coverage on Old Second Bancorp in a research note on Friday, March 27th. They set an “overweight” rating and a $23.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Old Second Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

Old Second Bancorp Price Performance

OSBC stock opened at $22.71 on Tuesday. The firm has a 50 day moving average of $21.74 and a 200-day moving average of $20.79. Old Second Bancorp has a 12-month low of $16.42 and a 12-month high of $23.95. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 13.52 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.03). The firm had revenue of $93.77 million for the quarter, compared to analysts’ expectations of $94.80 million. Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%. As a group, equities analysts expect that Old Second Bancorp will post 2.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OSBC. Harbour Investments Inc. acquired a new stake in shares of Old Second Bancorp in the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its holdings 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 valued at $26,000 after purchasing an additional 1,215 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Old Second Bancorp during the fourth quarter worth approximately $27,000. Parkside Financial Bank & Trust purchased a new position in Old Second Bancorp during the fourth quarter worth approximately $45,000. Finally, Clearstead Advisors LLC raised its stake in Old Second Bancorp by 793.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 2,159 shares during the period. Institutional investors and hedge funds own 67.76% of the company’s stock.

About Old Second Bancorp

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.