Old Second Bancorp, Inc. (NASDAQ:OSBC) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Analysts maintain a “Buy” consensus on Old Second Bancorp, with five buy ratings, one strong-buy, and one hold; the average 12-month price target is $25.40, including Piper Sandler’s upgraded $30 target.
• Old Second Bancorp reported quarterly EPS of $0.55, matching estimates, while revenue of $96.59 million exceeded expectations of $94.88 million. Analysts forecast full-year EPS of approximately $2.20.
• The company declared a quarterly dividend of $0.07 per share, equivalent to a 1.1% yield, and institutional investors own 67.76% of the stock.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) has been given a consensus rating of "Buy" by the seven analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $25.40.

OSBC has been the topic of a number of analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Raymond James Financial assumed coverage on shares of Old Second Bancorp in a research note on Tuesday, July 7th. They issued an "outperform" rating and a $26.00 target price on the stock. DA Davidson upped their target price on shares of Old Second Bancorp from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Zacks Research upgraded shares of Old Second Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Old Second Bancorp in a report on Friday, May 29th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Harbour Investments Inc. bought a new stake in Old Second Bancorp during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its position in Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 1,215 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in Old Second Bancorp in the 4th quarter valued at $27,000. Parkside Financial Bank & Trust acquired a new position in Old Second Bancorp in the fourth quarter worth $45,000. Finally, Clearstead Advisors LLC boosted its stake in Old Second Bancorp by 793.8% in the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider's stock worth $47,000 after purchasing an additional 2,159 shares in the last quarter. Institutional investors own 67.76% of the company's stock.

Old Second Bancorp Stock Down 0.2%

NASDAQ OSBC opened at $25.29 on Friday. Old Second Bancorp has a 1-year low of $16.42 and a 1-year high of $25.67. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 14.53 and a beta of 0.70. The stock's 50 day moving average is $22.77 and its two-hundred day moving average is $21.26. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.55. The business had revenue of $96.59 million during the quarter, compared to analysts' expectations of $94.88 million. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%. Equities analysts forecast that Old Second Bancorp will post 2.2 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. Old Second Bancorp's dividend payout ratio (DPR) is presently 16.09%.

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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