Old Second Bancorp, Inc. (OSBC) Stock Rating Lowered by ValuEngine

Old Second Bancorp, Inc. (NASDAQ:OSBC) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts have also recently weighed in on OSBC. Zacks Investment Research cut Old Second Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $11.50 target price on shares of Old Second Bancorp in a research note on Tuesday, October 3rd. BidaskClub upgraded Old Second Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Finally, DA Davidson initiated coverage on Old Second Bancorp in a research note on Friday, September 1st. They set a “neutral” rating and a $13.00 target price for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Old Second Bancorp has a consensus rating of “Hold” and a consensus target price of $12.17.

Old Second Bancorp (OSBC) opened at 14.25 on Friday. The stock has a 50 day moving average price of $12.60 and a 200-day moving average price of $11.88. The firm has a market capitalization of $422.18 million, a PE ratio of 22.98 and a beta of 1.38. Old Second Bancorp has a one year low of $7.65 and a one year high of $14.90.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.08. Old Second Bancorp had a return on equity of 10.30% and a net margin of 16.82%. On average, equities analysts forecast that Old Second Bancorp will post $0.80 earnings per share for the current year.

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In other Old Second Bancorp news, Director John Ladowicz sold 8,450 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $12.11, for a total transaction of $102,329.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William B. Skoglund sold 3,850 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $12.13, for a total value of $46,700.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 5,550 shares of company stock valued at $62,594 and have sold 50,350 shares valued at $609,088. 3.60% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OSBC. Wells Fargo & Company MN lifted its stake in Old Second Bancorp by 7.0% during the first quarter. Wells Fargo & Company MN now owns 75,588 shares of the financial services provider’s stock worth $851,000 after purchasing an additional 4,936 shares during the last quarter. First Trust Advisors LP lifted its stake in Old Second Bancorp by 9.4% during the first quarter. First Trust Advisors LP now owns 54,557 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 4,693 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Old Second Bancorp by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 176,286 shares of the financial services provider’s stock worth $1,984,000 after purchasing an additional 14,020 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Old Second Bancorp by 6.6% during the first quarter. Parametric Portfolio Associates LLC now owns 36,958 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 2,280 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Old Second Bancorp by 7.4% during the first quarter. Prudential Financial Inc. now owns 16,040 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 65.57% of the company’s stock.

About Old Second Bancorp

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