Old Second Bancorp (NASDAQ:OSBC) Stock Rating Lowered by Zacks Investment Research

Old Second Bancorp (NASDAQ:OSBC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Old Second Bancorp Inc.’s full service banking businesses include the customary consumer and commercial products and services which banks provide. The following services are included: demand, savings, time deposit, individual retirement and Keogh deposit accounts; commercial, industrial, consumer and real estate lending, including installment loans, student loans, farm loans, lines of credit and overdraft checking; safe deposit operations; trust services; and an extensive variety of additional services tailored to the needs of individual customers. “

A number of other equities research analysts also recently weighed in on OSBC. ValuEngine downgraded Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. FIG Partners reaffirmed an “outperform” rating on shares of Sterling Bancorp in a report on Monday, April 29th. BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Finally, Raymond James set a $33.00 price objective on LKQ and gave the company a “buy” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.67.

NASDAQ OSBC opened at $12.69 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $12.52. The firm has a market capitalization of $379.39 million, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 1.45 and a beta of 0.96. Old Second Bancorp has a 1-year low of $11.32 and a 1-year high of $16.30.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The company had revenue of $30.52 million for the quarter, compared to analyst estimates of $32.23 million. Old Second Bancorp had a net margin of 23.12% and a return on equity of 15.76%. Equities analysts expect that Old Second Bancorp will post 1.25 EPS for the current year.

In other Old Second Bancorp news, EVP Keith Gottschalk sold 2,000 shares of Old Second Bancorp stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $13.07, for a total transaction of $26,140.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.28% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan bought a new position in shares of Old Second Bancorp in the fourth quarter valued at approximately $619,000. Rhumbline Advisers raised its stake in shares of Old Second Bancorp by 42.8% in the fourth quarter. Rhumbline Advisers now owns 41,112 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 12,325 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Old Second Bancorp by 62.7% in the fourth quarter. Bank of America Corp DE now owns 20,097 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 7,745 shares during the last quarter. Lodestar Investment Counsel LLC IL raised its stake in shares of Old Second Bancorp by 5.8% in the first quarter. Lodestar Investment Counsel LLC IL now owns 18,200 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Old Second Bancorp by 95.9% in the first quarter. Assenagon Asset Management S.A. now owns 64,442 shares of the financial services provider’s stock valued at $811,000 after acquiring an additional 31,540 shares during the last quarter. Institutional investors own 68.72% of the company’s stock.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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