DA Davidson Raises Old Second Bancorp (NASDAQ:OSBC) Price Target to $19.00

Key Points

• DA Davidson has raised its price target for Old Second Bancorp (NASDAQ:OSBC) from $17.00 to $19.00, indicating a potential upside of 7.04% from the current stock price.
• Analysts have mixed ratings on the stock, with two holding, three buying, and one issuing a strong buy rating; the consensus rating is currently a "Moderate Buy".
• The company recently reported $0.48 earnings per share, slightly missing the consensus estimate, but its revenue of $75.13 million exceeded expectations.
• Institutional investors hold 67.76% of Old Second Bancorp's stock, indicating substantial confidence from major financial players.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) had its price target increased by stock analysts at DA Davidson from $17.00 to $19.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. DA Davidson's price target points to a potential upside of 7.04% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. Wall Street Zen raised Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods lowered their target price on Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Stephens lowered their target price on Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Old Second Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.70.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC traded up $0.03 during trading on Friday, reaching $17.75. The company had a trading volume of 137,600 shares, compared to its average volume of 227,696. Old Second Bancorp has a 52 week low of $14.14 and a 52 week high of $19.46. The stock has a market cap of $799.82 million, a PE ratio of 9.69 and a beta of 0.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. The business's 50 day moving average price is $17.53 and its 200-day moving average price is $17.25.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $75.13 million for the quarter, compared to the consensus estimate of $63.58 million. Old Second Bancorp had a return on equity of 12.73% and a net margin of 24.38%. Analysts expect that Old Second Bancorp will post 1.86 earnings per share for the current year.

Institutional Investors Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Hudson Edge Investment Partners Inc. grew its stake in Old Second Bancorp by 40.3% during the first quarter. Hudson Edge Investment Partners Inc. now owns 59,834 shares of the financial services provider's stock worth $996,000 after buying an additional 17,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Old Second Bancorp by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider's stock worth $441,000 after buying an additional 843 shares in the last quarter. Bank of America Corp DE grew its stake in Old Second Bancorp by 44.2% during the fourth quarter. Bank of America Corp DE now owns 236,062 shares of the financial services provider's stock worth $4,197,000 after buying an additional 72,398 shares in the last quarter. GAMMA Investing LLC grew its stake in Old Second Bancorp by 4,125.0% during the first quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock worth $90,000 after buying an additional 5,280 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Old Second Bancorp by 31.2% during the first quarter. SG Americas Securities LLC now owns 44,275 shares of the financial services provider's stock worth $737,000 after buying an additional 10,517 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company's stock.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.