Old Second Bancorp (NASDAQ:OSBC) Releases Earnings Results, Misses Estimates By $0.01 EPS

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) posted its quarterly earnings results on Thursday. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01), Yahoo Finance reports. The company had revenue of $83.83 million for the quarter, compared to the consensus estimate of $69.50 million. Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%.

Old Second Bancorp Stock Performance

Shares of OSBC traded up $0.69 during trading hours on Friday, reaching $14.43. 232,046 shares of the company traded hands, compared to its average volume of 176,965. The stock has a market capitalization of $646.46 million, a P/E ratio of 7.11 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. Old Second Bancorp has a 12-month low of $10.79 and a 12-month high of $16.76. The business has a fifty day moving average price of $13.49 and a 200-day moving average price of $14.17.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 26th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, April 25th. Old Second Bancorp's dividend payout ratio is currently 10.15%.

Analysts Set New Price Targets

OSBC has been the topic of several research reports. Raymond James raised shares of Old Second Bancorp from an "outperform" rating to a "strong-buy" rating and set a $17.00 price objective on the stock in a report on Thursday, April 4th. Stephens reissued an "overweight" rating and set a $17.00 price objective on shares of Old Second Bancorp in a report on Friday.

Institutional Investors Weigh In On Old Second Bancorp

Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Old Second Bancorp during the second quarter valued at $48,000. Tower Research Capital LLC TRC lifted its position in Old Second Bancorp by 281.1% during the third quarter. Tower Research Capital LLC TRC now owns 8,033 shares of the financial services provider's stock valued at $105,000 after purchasing an additional 5,925 shares during the period. UBS Group AG lifted its position in Old Second Bancorp by 140.8% during the second quarter. UBS Group AG now owns 11,068 shares of the financial services provider's stock valued at $148,000 after purchasing an additional 6,471 shares during the period. LPL Financial LLC acquired a new position in Old Second Bancorp during the second quarter valued at $161,000. Finally, State of Wyoming lifted its position in Old Second Bancorp by 190.3% during the fourth quarter. State of Wyoming now owns 10,144 shares of the financial services provider's stock valued at $163,000 after purchasing an additional 6,650 shares during the period. 67.76% of the stock is owned by hedge funds and other institutional investors.

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.