Zacks Investment Research upgraded shares of Old Second Bancorp (NASDAQ:OSBC) from a sell rating to a hold rating in a report published on Thursday, Zacks.com reports.
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 brokerages also recently weighed in on OSBC. Raymond James set a $33.00 price target on shares of LKQ and gave the company a buy rating in a research report on Friday, April 26th. FIG Partners reiterated an outperform rating on shares of Sterling Bancorp in a research report on Monday, April 29th. Finally, BidaskClub downgraded shares of Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Old Second Bancorp presently has an average rating of Hold and a consensus price target of $15.67.
Shares of NASDAQ:OSBC traded up $0.17 during mid-day trading on Thursday, reaching $13.26. The stock had a trading volume of 3,228 shares, compared to its average volume of 55,895. The company has a market cap of $382.08 million, a price-to-earnings ratio of 11.83, a PEG ratio of 1.46 and a beta of 0.96. The stock has a 50 day moving average of $12.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.85 and a current ratio of 0.86. Old Second Bancorp has a twelve month low of $11.32 and a twelve month high of $16.30.
Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $32.90 million for the quarter, compared to the consensus estimate of $32.60 million. Old Second Bancorp had a net margin of 24.90% and a return on equity of 15.65%. On average, equities research analysts expect that Old Second Bancorp will post 1.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 26th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, July 25th. This represents a $0.04 annualized dividend and a yield of 0.30%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 3.57%.
In other Old Second Bancorp news, EVP Keith Gottschalk sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $13.07, for a total transaction of $26,140.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.28% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Lodestar Investment Counsel LLC IL raised its holdings in shares of Old Second Bancorp by 5.8% in the first quarter. Lodestar Investment Counsel LLC IL now owns 18,200 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 1,000 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Old Second Bancorp by 41.2% in the first quarter. Meeder Asset Management Inc. now owns 5,633 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 1,644 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Old Second Bancorp by 3.7% in the second quarter. Bessemer Group Inc. now owns 47,600 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 1,700 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Old Second Bancorp in the first quarter valued at approximately $60,000. Finally, Executive Wealth Management LLC acquired a new stake in shares of Old Second Bancorp in the fourth quarter valued at approximately $62,000. Hedge funds and other institutional investors own 68.74% of the company’s stock.
About Old Second Bancorp
Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.
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