BidaskClub upgraded shares of Old Second Bancorp (NASDAQ:OSBC) from a hold rating to a buy rating in a research note published on Friday.
Several other equities analysts have also recently weighed in on OSBC. ValuEngine cut Old Second Bancorp from a buy rating to a hold rating in a report on Wednesday, April 18th. Zacks Investment Research upgraded Old Second Bancorp from a hold rating to a buy rating and set a $17.00 price objective for the company in a report on Tuesday, May 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $13.83.
Shares of NASDAQ OSBC opened at $15.30 on Friday. The stock has a market capitalization of $446.21 million, a PE ratio of 18.89, a P/E/G ratio of 1.94 and a beta of 0.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.80 and a quick ratio of 0.80. Old Second Bancorp has a fifty-two week low of $10.75 and a fifty-two week high of $15.55.
Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.08. Old Second Bancorp had a return on equity of 15.06% and a net margin of 16.78%. sell-side analysts forecast that Old Second Bancorp will post 1.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 7th. Stockholders of record on Friday, April 27th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Thursday, April 26th. Old Second Bancorp’s payout ratio is 4.94%.
In other news, CEO William B. Skoglund sold 4,287 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $14.41, for a total value of $61,775.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 15,906 shares of company stock valued at $230,644 in the last 90 days. 3.28% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Banc Funds Co. LLC grew its holdings in Old Second Bancorp by 3.0% during the fourth quarter. Banc Funds Co. LLC now owns 2,517,384 shares of the financial services provider’s stock worth $34,362,000 after purchasing an additional 73,000 shares during the period. BlackRock Inc. grew its holdings in Old Second Bancorp by 1.5% during the fourth quarter. BlackRock Inc. now owns 1,940,774 shares of the financial services provider’s stock worth $26,492,000 after purchasing an additional 28,031 shares during the period. Thomson Horstmann & Bryant Inc. grew its holdings in Old Second Bancorp by 1.0% during the first quarter. Thomson Horstmann & Bryant Inc. now owns 1,414,978 shares of the financial services provider’s stock worth $19,668,000 after purchasing an additional 13,870 shares during the period. Renaissance Technologies LLC grew its holdings in Old Second Bancorp by 7.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,018,700 shares of the financial services provider’s stock worth $13,905,000 after purchasing an additional 69,300 shares during the period. Finally, Maltese Capital Management LLC grew its holdings in Old Second Bancorp by 124.5% during the first quarter. Maltese Capital Management LLC now owns 820,000 shares of the financial services provider’s stock worth $11,398,000 after purchasing an additional 454,700 shares during the period. Institutional investors and hedge funds own 69.04% of the company’s stock.
About Old Second Bancorp
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank that provides a range of banking services. The company accepts demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers revolving lines of credit for working capital; lending for capital expenditures on manufacturing equipment; lending to small business manufactures, service companies, medical and dental entities, and specialty contractors; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage loans, second mortgage loans, and home equity line of credit mortgages; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans, as well as student loans; and overdraft checking.
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