Analysts expect Old Second Bancorp Inc. (NASDAQ:OSBC) to announce $32.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Old Second Bancorp’s earnings, with estimates ranging from $29.70 million to $34.60 million. Old Second Bancorp reported sales of $26.31 million during the same quarter last year, which indicates a positive year over year growth rate of 22.2%. The firm is scheduled to issue its next quarterly earnings results on Monday, August 6th.
According to Zacks, analysts expect that Old Second Bancorp will report full-year sales of $126.85 million for the current financial year, with estimates ranging from $119.20 million to $134.50 million. For the next fiscal year, analysts forecast that the business will report sales of $140.80 million per share, with estimates ranging from $130.50 million to $151.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Old Second Bancorp.
Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.31 earnings per share for the quarter, topping the Zacks’ 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%.
OSBC has been the topic of several recent analyst reports. ValuEngine cut shares of Old Second Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. BidaskClub upgraded shares of Old Second Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, May 18th. Finally, Zacks Investment Research upgraded shares of Old Second Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Tuesday, May 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $13.83.
Hedge funds have recently modified their holdings of the company. AlphaOne Investment Services LLC purchased a new stake in shares of Old Second Bancorp during the 4th quarter worth approximately $1,426,000. Schwab Charles Investment Management Inc. grew its stake in Old Second Bancorp by 10.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 63,226 shares of the financial services provider’s stock valued at $864,000 after buying an additional 6,002 shares in the last quarter. California Public Employees Retirement System grew its stake in Old Second Bancorp by 12.1% in the 4th quarter. California Public Employees Retirement System now owns 98,656 shares of the financial services provider’s stock valued at $1,347,000 after buying an additional 10,659 shares in the last quarter. Banc Funds Co. LLC grew its stake in Old Second Bancorp by 3.0% in the 4th quarter. Banc Funds Co. LLC now owns 2,517,384 shares of the financial services provider’s stock valued at $34,362,000 after buying an additional 73,000 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Old Second Bancorp by 1.5% in the 4th quarter. BlackRock Inc. now owns 1,940,774 shares of the financial services provider’s stock valued at $26,492,000 after buying an additional 28,031 shares in the last quarter. Institutional investors own 69.04% of the company’s stock.
NASDAQ OSBC traded up $0.05 during trading hours on Friday, hitting $15.15. The company’s stock had a trading volume of 698 shares, compared to its average volume of 71,041. Old Second Bancorp has a 52 week low of $10.75 and a 52 week high of $15.55. The stock has a market cap of $453.64 million, a price-to-earnings ratio of 18.64, a PEG ratio of 1.97 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 0.80.
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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