Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives $21.38 Consensus Price Target from Brokerages

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have earned a consensus rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $21.3750.

Several equities research analysts have recently issued reports on OSBC shares. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. DA Davidson raised their price target on shares of Old Second Bancorp from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Finally, Wall Street Zen downgraded shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, October 4th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,215 shares during the last quarter. Strs Ohio purchased a new position in shares of Old Second Bancorp in the 1st quarter worth approximately $88,000. GAMMA Investing LLC grew its position in shares of Old Second Bancorp by 4,125.0% in the 1st quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider’s stock worth $90,000 after buying an additional 5,280 shares during the last quarter. Quarry LP grew its position in shares of Old Second Bancorp by 145.5% in the 1st quarter. Quarry LP now owns 5,802 shares of the financial services provider’s stock worth $97,000 after buying an additional 3,439 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Old Second Bancorp by 446.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,306 shares of the financial services provider’s stock worth $112,000 after buying an additional 5,153 shares during the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Price Performance

Shares of NASDAQ:OSBC opened at $17.05 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a fifty day moving average price of $17.75 and a 200 day moving average price of $17.13. Old Second Bancorp has a fifty-two week low of $14.14 and a fifty-two week high of $19.46. The firm has a market cap of $897.68 million, a price-to-earnings ratio of 9.32 and a beta of 0.80.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $75.13 million for the quarter, compared to the consensus estimate of $63.58 million. Old Second Bancorp had a net margin of 24.38% and a return on equity of 12.53%. As a group, sell-side analysts expect that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently announced a special dividend, which was paid on Monday, August 4th. Shareholders of record on Friday, July 25th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a yield of 130.0%. Old Second Bancorp’s dividend payout ratio (DPR) is 13.11%.

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.