Old Second Bancorp, Inc. (NASDAQ:OSBC) Given Average Rating of “Buy” by Brokerages

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have been assigned an average recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $25.40.

A number of equities analysts have issued reports on OSBC shares. Raymond James Financial assumed coverage on shares of Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 target price for the company. Piper Sandler reissued an “overweight” rating and set a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research note on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Zacks Research raised Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Finally, DA Davidson increased their target price on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th.

Old Second Bancorp Stock Down 1.3%

OSBC opened at $25.44 on Friday. The business’s fifty day moving average is $23.22 and its two-hundred day moving average is $21.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 14.62 and a beta of 0.70. Old Second Bancorp has a one year low of $16.57 and a one year high of $26.04.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%. Analysts anticipate that Old Second Bancorp will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 31st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, July 31st. Old Second Bancorp’s dividend payout ratio is currently 16.09%.

Institutional Trading of Old Second Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC raised its stake in Old Second Bancorp by 1.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 493 shares during the last quarter. Nisa Investment Advisors LLC grew 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 buying an additional 540 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Old Second Bancorp by 32.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock worth $49,000 after buying an additional 622 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Old Second Bancorp by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock valued at $2,186,000 after buying an additional 908 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Old Second Bancorp by 4.3% in 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 last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

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.