Old Second Bancorp (NASDAQ:OSBC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Old Second Bancorp (NASDAQ:OSBC) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Several other analysts have also issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating and set a $24.50 price target (up from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. Finally, DA Davidson upped their price target on shares of Old Second Bancorp from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $21.63.

Old Second Bancorp Stock Up 0.1%

Shares of NASDAQ:OSBC opened at $18.58 on Friday. Old Second Bancorp has a 52-week low of $14.14 and a 52-week high of $19.46. The firm has a fifty day moving average of $17.88 and a 200 day moving average of $17.30. The firm has a market capitalization of $978.24 million, a PE ratio of 12.30 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Old Second Bancorp had a net margin of 18.89% and a return on equity of 13.10%. The company had revenue of $95.88 million during the quarter, compared to analyst estimates of $80.45 million. As a group, research analysts anticipate that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, October 31st. Old Second Bancorp’s dividend payout ratio is currently 15.89%.

Institutional Trading of Old Second Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in Old Second Bancorp in the third quarter worth about $30,000. River Street Advisors LLC purchased a new position in shares of Old Second Bancorp during the third quarter valued at approximately $6,637,000. Mather Group LLC. purchased a new position in shares of Old Second Bancorp during the third quarter valued at approximately $67,000. CWM LLC lifted its holdings in shares of Old Second Bancorp by 25.2% during the third quarter. CWM LLC now owns 24,358 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 4,907 shares during the last quarter. Finally, Sara Bay Financial purchased a new position in shares of Old Second Bancorp during the third quarter valued at approximately $1,712,000. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

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.