Old Second Bancorp, Inc. (OSBC) - What Are Investment Firms Saying About This Stock?

Key Points

• Analyst sentiment is moderately positive: Six brokerages give Old Second Bancorp an average “Moderate Buy” rating, with a mean 12-month price target of $26.75.
• The company’s latest quarter fell short of expectations, reporting EPS of $0.55 versus $0.58 forecast and revenue of $97.12 million versus $98.22 million expected. It increased its quarterly dividend from $0.07 to $0.08 per share.
• Company insiders sold 93,313 shares worth about $2.39 million over the past 90 days; institutional investors own 67.76% of the stock.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $26.75.

OSBC has been the subject of several research reports. DA Davidson increased their price objective on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Zacks Research cut shares of Old Second Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 31st. Raymond James Financial upgraded shares of Old Second Bancorp from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $27.00 to $30.00 in a research report on Tuesday, October 6th. Weiss Ratings raised shares of Old Second Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, October 21st. Finally, Piper Sandler dropped their price target on Old Second Bancorp from $30.00 to $29.00 and set an "overweight" rating for the company in a research report on Monday, October 26th.

Insider Activity

In other news, CEO James Eccher sold 19,313 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $25.61, for a total transaction of $494,605.93. Following the transaction, the chief executive officer owned 303,399 shares of the company's stock, valued at approximately $7,770,048.39. The trade was a 5.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hugh H. Mclean sold 25,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $25.63, for a total value of $640,750.00. Following the sale, the director owned 135,351 shares in the company, valued at $3,469,046.13. The trade was a 15.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 93,313 shares of company stock valued at $2,391,326 in the last ninety days. Insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Old Second Bancorp in the second quarter valued at $100,245,000. Dimensional Fund Advisors LP boosted its stake in shares of Old Second Bancorp by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider's stock worth $48,159,000 after purchasing an additional 127,988 shares during the period. Davis Asset Management L.P. purchased a new position in shares of Old Second Bancorp during the 2nd quarter worth about $41,976,000. The Manufacturers Life Insurance Company bought a new position in Old Second Bancorp during the 2nd quarter valued at about $20,350,000. Finally, Congress Asset Management Co. grew its holdings in Old Second Bancorp by 21.4% during the 3rd quarter. Congress Asset Management Co. now owns 411,201 shares of the financial services provider's stock valued at $10,070,000 after purchasing an additional 72,551 shares during the last quarter. Institutional investors own 67.76% of the company's stock.

Old Second Bancorp Stock Up 2.8%

NASDAQ OSBC opened at $25.09 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $1.28 billion, a P/E ratio of 11.83 and a beta of 0.78. Old Second Bancorp has a one year low of $17.61 and a one year high of $26.06. The stock has a 50 day moving average price of $24.92 and a 200-day moving average price of $22.62.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its earnings results on Wednesday, October 21st. The financial services provider reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). Old Second Bancorp had a net margin of 24.50% and a return on equity of 12.69%. The business had revenue of $97.12 million during the quarter, compared to analysts' expectations of $98.22 million. As a group, equities analysts predict that Old Second Bancorp will post 2.18 EPS for the current fiscal year.

Old Second Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 9th. Shareholders of record on Friday, October 30th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. This is a boost from Old Second Bancorp's previous quarterly dividend of $0.07. The ex-dividend date was Friday, October 30th. Old Second Bancorp's dividend payout ratio (DPR) is currently 15.09%.

Old Second Bancorp Company Profile

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