Old Second Bancorp (NASDAQ:OSBC) Rating Increased to Moderate Buy at Raymond James Financial

Old Second Bancorp (NASDAQ:OSBC) was upgraded by equities research analysts at Raymond James Financial to a “moderate buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts have also commented on OSBC. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Piper Sandler lifted their price objective on Old Second Bancorp from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Stephens initiated coverage on Old Second Bancorp in a research report on Friday, March 27th. They set an “overweight” rating and a $23.00 target price for the company. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.20.

Old Second Bancorp Price Performance

OSBC stock opened at $22.71 on Tuesday. The firm has a 50 day moving average of $21.74 and a 200-day moving average of $20.79. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. Old Second Bancorp has a 12 month low of $16.42 and a 12 month high of $23.95. The firm has a market capitalization of $1.17 billion, a P/E ratio of 13.52 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%.The firm had revenue of $93.77 million for the quarter, compared to the consensus estimate of $94.80 million. As a group, sell-side analysts predict that Old Second Bancorp will post 2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OSBC. Harbour Investments Inc. purchased a new stake in Old Second Bancorp during the fourth quarter valued at about $26,000. Rockefeller Capital Management L.P. bought a new position in shares of Old Second Bancorp during the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its position in shares of Old Second Bancorp by 458.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,215 shares during the last quarter. Parkside Financial Bank & Trust purchased a new position in shares of Old Second Bancorp during the 4th quarter valued at about $45,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Old Second Bancorp by 793.8% during the 4th quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock valued at $47,000 after buying an additional 2,159 shares in the last quarter. 67.76% of the stock is currently 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.