Old Second Bancorp (NASDAQ:OSBC) Given New $23.00 Price Target at DA Davidson

Old Second Bancorp (NASDAQ:OSBC) had its target price hoisted by DA Davidson from $22.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s target price would indicate a potential upside of 12.49% from the stock’s current price.

A number of other analysts also recently issued reports on OSBC. Keefe, Bruyette & Woods lifted their price objective on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Wall Street Zen upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Old Second Bancorp has an average rating of “Moderate Buy” and an average price target of $22.63.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC traded down $0.81 during midday trading on Friday, reaching $20.45. 62,868 shares of the company traded hands, compared to its average volume of 344,799. Old Second Bancorp has a 12 month low of $14.14 and a 12 month high of $22.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s 50-day simple moving average is $19.76 and its 200-day simple moving average is $18.57. The firm has a market cap of $1.08 billion, a PE ratio of 12.53 and a beta of 0.82.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $95.21 million for the quarter, compared to the consensus estimate of $82.49 million. Old Second Bancorp had a return on equity of 13.36% and a net margin of 20.00%. As a group, equities analysts anticipate that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Darin Patrick Campbell sold 31,159 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $17.89, for a total value of $557,434.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Old Second Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its holdings in shares of Old Second Bancorp by 12.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 540 shares during the period. Teacher Retirement System of Texas lifted its holdings in Old Second Bancorp by 1.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 41,578 shares of the financial services provider’s stock worth $738,000 after buying an additional 757 shares during the period. Hudson Edge Investment Partners Inc. grew its position in shares of Old Second Bancorp by 1.4% in the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 60,674 shares of the financial services provider’s stock worth $1,076,000 after buying an additional 840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Old Second Bancorp by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock valued at $430,000 after buying an additional 1,067 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Old Second Bancorp by 458.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,215 shares in the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

About Old Second Bancorp

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.