Old Second Bancorp’s (OSBC) Overweight Rating Reaffirmed at Stephens

Old Second Bancorp (NASDAQ:OSBC)‘s stock had its “overweight” rating reiterated by Stephens in a research report issued on Thursday,Benzinga reports. They presently have a $21.00 price target on the financial services provider’s stock. Stephens’ price objective suggests a potential upside of 13.57% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Piper Sandler upped their price target on shares of Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Raymond James upgraded shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, DA Davidson set a $18.00 price target on shares of Old Second Bancorp in a research note on Thursday, October 17th.

Old Second Bancorp Stock Performance

Shares of Old Second Bancorp stock traded down $0.19 during trading on Thursday, hitting $18.49. 149,458 shares of the stock were exchanged, compared to its average volume of 247,596. The stock has a market capitalization of $829.32 million, a price-to-earnings ratio of 10.00 and a beta of 1.08. The company has a fifty day moving average price of $18.19 and a 200-day moving average price of $16.93. Old Second Bancorp has a 1-year low of $13.00 and a 1-year high of $19.37. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. As a group, equities analysts predict that Old Second Bancorp will post 1.95 EPS for the current fiscal year.

Insider Buying and Selling at Old Second Bancorp

In other news, Director Rocks Patti Temple purchased 5,625 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $17.79 per share, with a total value of $100,068.75. Following the acquisition, the director now owns 18,679 shares in the company, valued at approximately $332,299.41. The trade was a 43.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

A number of institutional investors have recently added to or reduced their stakes in OSBC. Dimensional Fund Advisors LP increased its position in shares of Old Second Bancorp by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock worth $25,188,000 after buying an additional 138,253 shares during the period. State Street Corp lifted its stake in shares of Old Second Bancorp by 6.5% in the third quarter. State Street Corp now owns 1,264,359 shares of the financial services provider’s stock valued at $19,711,000 after buying an additional 77,143 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Old Second Bancorp by 16.2% in the third quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider’s stock valued at $17,174,000 after buying an additional 153,187 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Old Second Bancorp by 2.3% in the third quarter. Geode Capital Management LLC now owns 1,029,485 shares of the financial services provider’s stock valued at $16,053,000 after buying an additional 22,747 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Old Second Bancorp by 180.3% during the third quarter. Assenagon Asset Management S.A. now owns 443,527 shares of the financial services provider’s stock worth $6,915,000 after purchasing an additional 285,314 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.