Old Second Bancorp (NASDAQ:OSBC) Announces Quarterly Earnings Results

Old Second Bancorp (NASDAQ:OSBC) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55, FiscalAI reports. The firm had revenue of $96.59 million for the quarter, compared to analyst estimates of $94.88 million. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC traded up $0.50 during mid-day trading on Friday, reaching $24.01. 92,216 shares of the company were exchanged, compared to its average volume of 390,067. Old Second Bancorp has a 52 week low of $16.42 and a 52 week high of $24.04. The company’s 50 day moving average price is $22.28 and its 200 day moving average price is $21.05. The stock has a market capitalization of $1.23 billion, a PE ratio of 13.80 and a beta of 0.70. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 31st will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. Old Second Bancorp’s dividend payout ratio (DPR) is 16.67%.

Institutional Trading of Old Second Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of Old Second Bancorp by 4.6% in the 4th quarter. Invesco Ltd. now owns 80,545 shares of the financial services provider’s stock worth $1,571,000 after acquiring an additional 3,544 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Old Second Bancorp by 11.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 14,445 shares of the financial services provider’s stock worth $282,000 after buying an additional 1,520 shares during the period. Empowered Funds LLC lifted its stake in shares of Old Second Bancorp by 10.9% in the 4th quarter. Empowered Funds LLC now owns 220,121 shares of the financial services provider’s stock valued at $4,292,000 after acquiring an additional 21,573 shares during the last quarter. Wellington Management Group LLP grew its position in Old Second Bancorp by 521.2% during the 4th quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock worth $18,909,000 after acquiring an additional 813,600 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Old Second Bancorp in the 4th quarter worth approximately $6,114,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OSBC. Stephens started coverage on Old Second Bancorp in a research report on Friday, March 27th. They issued an “overweight” rating and a $23.00 target price for the company. Piper Sandler increased their price target on Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Raymond James Financial initiated coverage on Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.20.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.