Old Second Bancorp (NASDAQ:OSBC) Receives “Overweight” Rating from Stephens

Stephens reiterated their overweight rating on shares of Old Second Bancorp (NASDAQ:OSBC) in a report published on Friday morning, Benzinga reports. They currently have a $17.00 price objective on the financial services provider’s stock.

Separately, Raymond James upgraded shares of Old Second Bancorp from an outperform rating to a strong-buy rating and set a $17.00 target price for the company in a research report on Thursday, April 4th.

Old Second Bancorp Trading Up 0.5 %

Shares of NASDAQ:OSBC opened at $14.50 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. Old Second Bancorp has a 52-week low of $10.79 and a 52-week high of $16.76. The stock has a market cap of $649.60 million, a price-to-earnings ratio of 7.36 and a beta of 1.10. The business has a 50-day moving average price of $13.53 and a 200-day moving average price of $14.19.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Old Second Bancorp had a return on equity of 16.78% and a net margin of 26.90%. The business had revenue of $83.83 million for the quarter, compared to analysts’ expectations of $69.50 million. Equities analysts predict that Old Second Bancorp will post 1.88 EPS for the current year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Friday, April 26th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, April 25th. Old Second Bancorp’s dividend payout ratio (DPR) is presently 10.15%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. OLD Second National Bank of Aurora purchased a new position in shares of Old Second Bancorp in the 3rd quarter valued at about $4,045,000. Charles Schwab Investment Management Inc. increased its position in shares of Old Second Bancorp by 122.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 368,799 shares of the financial services provider’s stock valued at $5,019,000 after buying an additional 202,981 shares in the last quarter. Mendon Capital Advisors Corp acquired a new position in shares of Old Second Bancorp during the 4th quarter worth approximately $3,088,000. Dimensional Fund Advisors LP lifted its position in shares of Old Second Bancorp by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,387,175 shares of the financial services provider’s stock valued at $21,419,000 after buying an additional 167,355 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its stake in Old Second Bancorp by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 325,719 shares of the financial services provider’s stock valued at $5,029,000 after acquiring an additional 158,300 shares during the period. Hedge funds and other institutional investors 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.