Stephens Reiterates Overweight Rating for Old Second Bancorp (NASDAQ:OSBC)

Old Second Bancorp (NASDAQ:OSBC - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities research analysts at Stephens in a research note issued to investors on Friday, Benzinga reports. They presently have a $17.00 price objective on the financial services provider's stock. Stephens' price target points to a potential upside of 17.81% from the company's previous close.

Separately, Raymond James upgraded Old Second Bancorp from an "outperform" rating to a "strong-buy" rating and set a $17.00 target price on the stock in a research report on Thursday, April 4th.

Old Second Bancorp Stock Performance

Shares of NASDAQ OSBC traded up $0.69 during trading on Friday, reaching $14.43. 232,046 shares of the company traded hands, compared to its average volume of 176,965. The firm's fifty day simple moving average is $13.49 and its 200 day simple moving average is $14.17. The stock has a market cap of $646.46 million, a P/E ratio of 7.32 and a beta of 1.10. Old Second Bancorp has a 12-month low of $10.79 and a 12-month high of $16.76. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.01). The company had revenue of $83.83 million for the quarter, compared to analysts' expectations of $69.50 million. Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%. As a group, research analysts anticipate that Old Second Bancorp will post 1.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Old Second Bancorp

Institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its holdings in Old Second Bancorp by 476.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 157,496 shares of the financial services provider's stock worth $2,432,000 after buying an additional 130,158 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in Old Second Bancorp in the 3rd quarter worth about $1,564,000. Great Lakes Advisors LLC boosted its holdings in shares of Old Second Bancorp by 148.5% during the 3rd quarter. Great Lakes Advisors LLC now owns 172,342 shares of the financial services provider's stock worth $2,346,000 after purchasing an additional 103,002 shares during the last quarter. OLD Second National Bank of Aurora acquired a new position in shares of Old Second Bancorp during the 3rd quarter worth approximately $4,045,000. Finally, Swiss National Bank boosted its holdings in shares of Old Second Bancorp by 0.9% during the 3rd quarter. Swiss National Bank now owns 98,100 shares of the financial services provider's stock worth $1,335,000 after purchasing an additional 900 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

About Old Second Bancorp

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.