Old Second Bancorp (NASDAQ:OSBC) Stock Price Expected to Rise, Stephens Analyst Says

Old Second Bancorp (NASDAQ:OSBC) had its price target upped by research analysts at Stephens from $21.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Stephens’ price objective suggests a potential upside of 21.08% from the stock’s previous close.

Separately, 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. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Second Bancorp presently has a consensus rating of “Buy” and an average target price of $20.90.

Old Second Bancorp Stock Up 0.2 %

Old Second Bancorp stock opened at $18.17 on Wednesday. The firm has a market capitalization of $814.98 million, a PE ratio of 9.72 and a beta of 1.07. The company’s 50-day moving average is $18.31 and its 200-day moving average is $17.42. Old Second Bancorp has a fifty-two week low of $13.00 and a fifty-two week high of $19.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. Sell-side analysts anticipate that Old Second Bancorp will post 1.86 earnings per share for the current year.

Insider Activity at Old Second Bancorp

In other Old Second Bancorp news, Director Rocks Patti Temple bought 5,625 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the transaction, the director now directly owns 18,679 shares in the company, valued at approximately $332,299.41. This trade represents a 43.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in shares of Old Second Bancorp by 16.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider’s stock worth $17,174,000 after purchasing an additional 153,187 shares in the last quarter. State Street Corp grew its position in shares of Old Second Bancorp by 6.5% during the 3rd quarter. State Street Corp now owns 1,264,359 shares of the financial services provider’s stock worth $19,711,000 after purchasing an additional 77,143 shares in the last quarter. Jane Street Group LLC grew its position in shares of Old Second Bancorp by 25.8% during the 3rd quarter. Jane Street Group LLC now owns 62,398 shares of the financial services provider’s stock worth $973,000 after purchasing an additional 12,785 shares in the last quarter. Barclays PLC grew its position in shares of Old Second Bancorp by 81.3% during the 3rd quarter. Barclays PLC now owns 116,582 shares of the financial services provider’s stock worth $1,817,000 after purchasing an additional 52,277 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Old Second Bancorp by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,029,485 shares of the financial services provider’s stock worth $16,053,000 after purchasing an additional 22,747 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

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.