Old Second Bancorp (NASDAQ:OSBC) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
Several other equities research analysts have also weighed in on OSBC. ValuEngine upgraded shares of Old Second Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research lowered shares of Old Second Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Old Second Bancorp currently has a consensus rating of “Buy” and an average target price of $13.83.
OSBC opened at $14.60 on Tuesday. The stock has a market cap of $440.26 million, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 1.91 and a beta of 0.70. Old Second Bancorp has a fifty-two week low of $10.75 and a fifty-two week high of $15.60. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50.
Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.08. Old Second Bancorp had a net margin of 16.78% and a return on equity of 14.35%. sell-side analysts predict that Old Second Bancorp will post 1.11 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in OSBC. The Manufacturers Life Insurance Company increased its stake in shares of Old Second Bancorp by 23.8% in the first quarter. The Manufacturers Life Insurance Company now owns 717,202 shares of the financial services provider’s stock valued at $9,969,000 after purchasing an additional 137,769 shares during the period. Blair William & Co. IL acquired a new stake in shares of Old Second Bancorp in the first quarter valued at approximately $573,000. Maltese Capital Management LLC increased its stake in shares of Old Second Bancorp by 124.5% in the first quarter. Maltese Capital Management LLC now owns 820,000 shares of the financial services provider’s stock valued at $11,398,000 after purchasing an additional 454,700 shares during the period. GSA Capital Partners LLP increased its stake in shares of Old Second Bancorp by 16.7% in the first quarter. GSA Capital Partners LLP now owns 56,631 shares of the financial services provider’s stock valued at $787,000 after purchasing an additional 8,100 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Old Second Bancorp by 3.4% in the first quarter. Russell Investments Group Ltd. now owns 463,325 shares of the financial services provider’s stock valued at $6,441,000 after purchasing an additional 15,400 shares during the period. Hedge funds and other institutional investors own 69.04% of the company’s stock.
Old Second Bancorp Company Profile
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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