Old Second Bancorp (NASDAQ:OSBC) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Old Second Bancorp (NASDAQ:OSBC) from a hold rating to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Piper Sandler restated an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a report on Monday. DA Davidson boosted their price objective on shares of Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Raymond James Financial assumed coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Old Second Bancorp presently has an average rating of “Buy” and a consensus target price of $25.40.

Old Second Bancorp Price Performance

OSBC opened at $25.29 on Thursday. The firm has a market cap of $1.30 billion, a PE ratio of 14.53 and a beta of 0.70. The stock has a 50-day moving average price of $22.77 and a 200-day moving average price of $21.26. Old Second Bancorp has a 1 year low of $16.42 and a 1 year high of $25.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. The company had revenue of $96.59 million for the quarter, compared to the consensus estimate of $94.88 million. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. Sell-side analysts predict that Old Second Bancorp will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, July 31st. This represents a $0.28 annualized dividend and a yield of 1.1%. Old Second Bancorp’s dividend payout ratio is currently 16.09%.

Institutional Trading of Old Second Bancorp

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Old Second Bancorp by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider’s stock valued at $63,929,000 after purchasing an additional 8,395 shares during the period. Dimensional Fund Advisors LP grew its position in Old Second Bancorp by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider’s stock worth $48,159,000 after purchasing an additional 127,988 shares during the period. FJ Capital Management LLC grew its position in Old Second Bancorp by 4.5% in the 3rd quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock worth $33,186,000 after purchasing an additional 82,601 shares during the period. Davis Asset Management L.P. raised its stake in Old Second Bancorp by 16.4% during the 4th quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider’s stock valued at $34,038,000 after buying an additional 245,523 shares during the last quarter. Finally, State Street Corp raised its stake in Old Second Bancorp by 12.6% during the 4th quarter. State Street Corp now owns 1,539,419 shares of the financial services provider’s stock valued at $30,019,000 after buying an additional 171,941 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

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.