Old Second Bancorp (NASDAQ:OSBC) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Old Second Bancorp (NASDAQ:OSBC) from a buy rating to a hold rating in a research report report published on Tuesday, December 26th.

According to Zacks, “Old Second Bancorp Inc.’s full service banking businesses include the customary consumer and commercial products and services which banks provide. The following services are included: demand, savings, time deposit, individual retirement and Keogh deposit accounts; commercial, industrial, consumer and real estate lending, including installment loans, student loans, farm loans, lines of credit and overdraft checking; safe deposit operations; trust services; and an extensive variety of additional services tailored to the needs of individual customers. “

A number of other research analysts have also weighed in on OSBC. DA Davidson assumed coverage on shares of Old Second Bancorp in a research note on Friday, September 1st. They issued a neutral rating and a $13.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $11.50 price target on shares of Old Second Bancorp in a research note on Tuesday, October 3rd. BidaskClub lowered shares of Old Second Bancorp from a buy rating to a hold rating in a research note on Saturday, December 9th. ValuEngine lowered shares of Old Second Bancorp from a buy rating to a hold rating in a research note on Saturday, October 21st. Finally, Sandler O’Neill raised shares of Old Second Bancorp from a hold rating to a buy rating in a research note on Thursday, December 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $13.17.

Shares of Old Second Bancorp (NASDAQ:OSBC) opened at $14.90 on Tuesday. The company has a market capitalization of $441.44, a PE ratio of 19.87, a PEG ratio of 2.30 and a beta of 1.27. Old Second Bancorp has a 12-month low of $9.65 and a 12-month high of $15.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.80 and a current ratio of 0.80.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.08. Old Second Bancorp had a net margin of 19.91% and a return on equity of 12.34%. analysts predict that Old Second Bancorp will post 0.79 earnings per share for the current fiscal year.

In other Old Second Bancorp news, Director John Ladowicz sold 10,096 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $14.40, for a total value of $145,382.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 10,996 shares of company stock worth $157,874 over the last three months. Corporate insiders own 3.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OSBC. Seizert Capital Partners LLC purchased a new position in Old Second Bancorp in the 2nd quarter worth approximately $3,639,000. Russell Investments Group Ltd. lifted its stake in Old Second Bancorp by 89.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 448,154 shares of the financial services provider’s stock worth $6,028,000 after purchasing an additional 211,500 shares in the last quarter. Boston Partners lifted its stake in Old Second Bancorp by 52.8% in the 3rd quarter. Boston Partners now owns 563,600 shares of the financial services provider’s stock worth $7,580,000 after purchasing an additional 194,800 shares in the last quarter. AJO LP lifted its stake in Old Second Bancorp by 71.7% in the 2nd quarter. AJO LP now owns 397,493 shares of the financial services provider’s stock worth $4,591,000 after purchasing an additional 165,968 shares in the last quarter. Finally, OxFORD Asset Management LLP lifted its stake in Old Second Bancorp by 126.9% in the 2nd quarter. OxFORD Asset Management LLP now owns 174,656 shares of the financial services provider’s stock worth $2,017,000 after purchasing an additional 97,683 shares in the last quarter. 68.27% of the stock is currently owned by institutional investors and hedge funds.

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Old Second Bancorp Company Profile

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