$39.07 Million in Sales Expected for Old Second Bancorp, Inc. (NASDAQ:OSBC) This Quarter

Wall Street brokerages forecast that Old Second Bancorp, Inc. (NASDAQ:OSBC) will report $39.07 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Old Second Bancorp’s earnings. The highest sales estimate is $39.50 million and the lowest is $38.70 million. Old Second Bancorp reported sales of $32.66 million in the same quarter last year, which would suggest a positive year over year growth rate of 19.6%. The firm is scheduled to issue its next earnings report on Wednesday, January 26th.

On average, analysts expect that Old Second Bancorp will report full year sales of $135.73 million for the current fiscal year, with estimates ranging from $135.30 million to $136.00 million. For the next financial year, analysts anticipate that the firm will post sales of $213.87 million, with estimates ranging from $212.80 million to $214.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, October 20th. The financial services provider reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Old Second Bancorp had a net margin of 26.98% and a return on equity of 10.80%. The firm had revenue of $31.90 million during the quarter, compared to analyst estimates of $31.70 million.

Several equities research analysts have recently commented on OSBC shares. Raymond James upped their price target on shares of Old Second Bancorp from $15.00 to $16.00 and gave the company a “strong-buy” rating in a research report on Friday, October 22nd. Zacks Investment Research upgraded Old Second Bancorp from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note on Wednesday, October 27th.

In other Old Second Bancorp news, Director William B. Skoglund sold 4,557 shares of the company’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $14.01, for a total value of $63,843.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hugh H. Mclean acquired 6,835 shares of the firm’s stock in a transaction dated Friday, September 3rd. The shares were purchased at an average cost of $11.81 per share, for a total transaction of $80,721.35. Following the completion of the acquisition, the director now directly owns 147,156 shares in the company, valued at $1,737,912.36. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 10,497 shares of company stock valued at $123,718. 4.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in OSBC. FJ Capital Management LLC increased its stake in Old Second Bancorp by 39.5% in the third quarter. FJ Capital Management LLC now owns 2,164,000 shares of the financial services provider’s stock worth $28,264,000 after purchasing an additional 613,000 shares during the period. Banc Funds Co. LLC boosted its position in Old Second Bancorp by 6.5% during the second quarter. Banc Funds Co. LLC now owns 1,667,679 shares of the financial services provider’s stock valued at $20,679,000 after purchasing an additional 101,685 shares in the last quarter. FMR LLC boosted its position in Old Second Bancorp by 27.8% during the second quarter. FMR LLC now owns 1,123,935 shares of the financial services provider’s stock valued at $13,937,000 after purchasing an additional 244,619 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Old Second Bancorp by 0.3% during the third quarter. The Manufacturers Life Insurance Company now owns 1,064,941 shares of the financial services provider’s stock valued at $13,908,000 after purchasing an additional 3,048 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Old Second Bancorp by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 1,061,893 shares of the financial services provider’s stock valued at $13,168,000 after purchasing an additional 34,477 shares in the last quarter. Institutional investors own 71.25% of the company’s stock.

Shares of NASDAQ OSBC traded down $0.05 during midday trading on Thursday, hitting $13.46. 52,087 shares of the company’s stock traded hands, compared to its average volume of 111,330. Old Second Bancorp has a 1 year low of $9.44 and a 1 year high of $14.45. The stock has a market capitalization of $386.41 million, a price-to-earnings ratio of 10.68 and a beta of 1.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.90 and a current ratio of 0.86. The firm has a fifty day moving average of $13.27 and a 200 day moving average of $12.82.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 8th. Investors of record on Friday, October 29th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, October 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.49%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 15.87%.

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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Earnings History and Estimates for Old Second Bancorp (NASDAQ:OSBC)

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