Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives Consensus Recommendation of "Buy" from Brokerages

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) has received a consensus rating of "Buy" from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $20.70.

A number of research firms recently weighed in on OSBC. Wall Street Zen upgraded shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods lowered their target price on shares of Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Piper Sandler reiterated an "overweight" rating and issued a $24.50 price objective (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. Stephens decreased their price objective on shares of 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. Finally, DA Davidson increased their price objective on shares of Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday.

Old Second Bancorp Stock Up 0.4%

Shares of NASDAQ OSBC traded up $0.07 during trading on Wednesday, hitting $17.85. 252,846 shares of the company traded hands, compared to its average volume of 233,777. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. Old Second Bancorp has a fifty-two week low of $14.14 and a fifty-two week high of $19.46. The firm has a market capitalization of $804.25 million, a price-to-earnings ratio of 9.75 and a beta of 0.81. The business's fifty day moving average is $17.55 and its 200 day moving average is $17.25.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). Old Second Bancorp had a return on equity of 12.73% and a net margin of 24.38%. The business had revenue of $75.13 million during the quarter, compared to analyst estimates of $63.58 million. Equities research analysts predict that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently declared a special dividend, which will be paid on Monday, August 4th. Stockholders of record on Friday, July 25th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a dividend yield of 1.3%. Old Second Bancorp's payout ratio is currently 13.11%.

Institutional Investors Weigh In On Old Second Bancorp

Large investors have recently modified their holdings of the stock. Quarry LP increased its stake in shares of Old Second Bancorp by 70.1% during the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock worth $42,000 after purchasing an additional 974 shares during the last quarter. Strs Ohio purchased a new stake in shares of Old Second Bancorp during the 1st quarter worth approximately $88,000. GAMMA Investing LLC boosted its holdings in Old Second Bancorp by 4,125.0% in the 1st 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 during the period. Quantbot Technologies LP boosted its holdings in Old Second Bancorp by 20.2% in the 4th quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider's stock worth $134,000 after buying an additional 1,264 shares during the period. Finally, Aquatic Capital Management LLC boosted its holdings in Old Second Bancorp by 47.3% in the 4th quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider's stock worth $141,000 after buying an additional 2,556 shares during the period. Hedge funds and other institutional investors 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.