DA Davidson Issues Positive Forecast for Old Second Bancorp (NASDAQ:OSBC) Stock Price

Key Points

• DA Davidson raised its price target for Old Second Bancorp from $24.00 to $25.00 while maintaining a “neutral” rating, implying roughly 4.04% upside from the prior close.
• Analyst sentiment remains favorable overall: five analysts rate the stock a Buy and one rates it a Hold, producing a “Moderate Buy” consensus and an average price target of $24.60.
• Old Second Bancorp reported quarterly earnings of $0.55 per share, matching estimates, while revenue of $96.59 million exceeded expectations. Institutional investors own approximately 67.76% of the company’s shares.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) had its price target raised by DA Davidson from $24.00 to $25.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. DA Davidson's price target suggests a potential upside of 4.04% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. Raymond James Financial initiated coverage on shares of Old Second Bancorp in a research report on Tuesday, July 7th. They set an "outperform" rating and a $26.00 price objective for the company. Stephens initiated coverage on shares of Old Second Bancorp in a report on Friday, March 27th. They issued an "overweight" rating and a $23.00 target price on the stock. Piper Sandler upped their price target on shares of Old Second Bancorp from $25.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday, June 26th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Old Second Bancorp in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Old Second Bancorp presently has an average rating of "Moderate Buy" and an average target price of $24.60.

Old Second Bancorp Price Performance

Old Second Bancorp stock opened at $24.03 on Friday. The stock's 50 day moving average is $22.35 and its 200 day moving average is $21.08. Old Second Bancorp has a one year low of $16.42 and a one year high of $24.21. The firm has a market cap of $1.24 billion, a P/E ratio of 13.81 and a beta of 0.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, meeting analysts' consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. The business had revenue of $96.59 million during the quarter, compared to the consensus estimate of $94.88 million. As a group, research analysts expect that Old Second Bancorp will post 2.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in Old Second Bancorp by 181.3% in the first quarter. Parallel Advisors LLC now owns 2,622 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 1,690 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Old Second Bancorp by 67.8% during the 1st quarter. Janus Henderson Group PLC now owns 26,232 shares of the financial services provider's stock worth $529,000 after purchasing an additional 10,597 shares in the last quarter. Amundi acquired a new stake in shares of Old Second Bancorp in the 1st quarter valued at about $276,000. Empowered Funds LLC increased its position in Old Second Bancorp by 6.1% in the 1st quarter. Empowered Funds LLC now owns 233,559 shares of the financial services provider's stock valued at $4,709,000 after buying an additional 13,438 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in Old Second Bancorp by 58.8% in the 1st quarter. Quantinno Capital Management LP now owns 49,879 shares of the financial services provider's stock valued at $1,006,000 after buying an additional 18,461 shares in the last quarter. 67.76% of the stock is owned by institutional investors.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.

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