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

Key Points

• Old Second Bancorp, Inc. has received a consensus rating of "Buy" from five rating firms, with an average one-year price target of $20.70.
• The company reported $0.48 earnings per share, which missed the consensus estimate, but its revenue for the quarter was $75.13 million, exceeding expectations.
• Old Second Bancorp declared a special dividend of $0.06 per share, yielding 130.0%, with a low payout ratio of 13.11%.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) has been given a consensus recommendation of "Buy" by the five ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.70.

Several research firms have recently weighed in on OSBC. Wall Street Zen raised shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. DA Davidson upped their price target on Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd.

Institutional Investors Weigh In On Old Second Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in OSBC. Price T Rowe Associates Inc. MD lifted its stake in Old Second Bancorp by 13.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,165 shares of the financial services provider's stock valued at $395,000 after acquiring an additional 2,631 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Old Second Bancorp by 46.4% during the 4th quarter. BNP Paribas Financial Markets now owns 48,262 shares of the financial services provider's stock valued at $858,000 after acquiring an additional 15,295 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Old Second Bancorp by 44.2% in the 4th quarter. Bank of America Corp DE now owns 236,062 shares of the financial services provider's stock valued at $4,197,000 after acquiring an additional 72,398 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Old Second Bancorp in the 4th quarter worth approximately $813,000. Finally, Cubist Systematic Strategies LLC boosted its position in Old Second Bancorp by 52.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 48,823 shares of the financial services provider's stock worth $868,000 after purchasing an additional 16,756 shares during the period. 67.76% of the stock is owned by hedge funds and other institutional investors.

Old Second Bancorp Trading Up 0.2%

Old Second Bancorp stock opened at $18.29 on Thursday. The firm has a market cap of $962.97 million, a price-to-earnings ratio of 9.99 and a beta of 0.85. Old Second Bancorp has a 1 year low of $14.14 and a 1 year high of $19.46. The firm's 50 day moving average price is $18.06 and its two-hundred day moving average price is $17.07. 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 (NASDAQ:OSBC - Get Free Report) last released 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 company 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 12.53% and a net margin of 24.38%. On average, research analysts predict that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently declared a special dividend, which was paid on Monday, August 4th. Stockholders of record on Friday, July 25th were issued a dividend of $0.06 per share. This represents a dividend yield of 130.0%. The ex-dividend date was Friday, July 25th. Old Second Bancorp's payout ratio is currently 13.11%.

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.

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