Old Second Bancorp’s (OSBC) Overweight Rating Reiterated at Stephens

Posted by Defense World Staff on Apr 25th, 2023

Stephens restated their overweight rating on shares of Old Second Bancorp (NASDAQ:OSBC – Get Rating) in a research note released on Friday morning, Benzinga reports. Stephens currently has a $18.00 price objective on the financial services provider’s stock.

OSBC has been the topic of a number of other reports. StockNews.com initiated coverage on shares of Old Second Bancorp in a research note on Thursday, March 16th. They issued a hold rating on the stock. Raymond James dropped their price target on Old Second Bancorp from $20.00 to $18.00 and set a strong-buy rating on the stock in a report on Thursday, April 6th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $19.00.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC opened at $12.84 on Friday. The firm has a market capitalization of $573.56 million, a P/E ratio of 7.38 and a beta of 1.09. The firm’s 50-day moving average price is $14.83 and its 200-day moving average price is $15.77. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.30. Old Second Bancorp has a 1-year low of $12.77 and a 1-year high of $17.80.

Old Second Bancorp (NASDAQ:OSBC – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $73.04 million during the quarter, compared to analysts’ expectations of $69.77 million. Old Second Bancorp had a return on equity of 18.06% and a net margin of 28.18%. Equities research analysts anticipate that Old Second Bancorp will post 2.15 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 8th. Stockholders of record on Friday, April 28th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, April 27th. Old Second Bancorp’s payout ratio is presently 11.49%.

Institutional Trading of Old Second Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Bailard Inc. bought a new position in Old Second Bancorp in the 4th quarter worth $358,000. Summit Global Investments bought a new stake in shares of Old Second Bancorp during the 3rd quarter worth approximately $493,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Old Second Bancorp by 93.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,973 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 3,360 shares during the period. Monarch Partners Asset Management LLC increased its stake in Old Second Bancorp by 0.3% in the 4th quarter. Monarch Partners Asset Management LLC now owns 232,773 shares of the financial services provider’s stock worth $3,734,000 after buying an additional 613 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Old Second Bancorp in the 4th quarter valued at about $286,000. 65.85% of the stock is currently owned by institutional investors.

About Old Second Bancorp

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Old Second Bancorp, Inc is a bank holding company. It 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 firm operates through the community banking segment.