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

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%.

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) have been assigned an average recommendation of "Buy" from the five brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $20.70.

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

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors and hedge funds have recently modified their holdings of OSBC. Goldman Sachs Group Inc. increased its stake in shares of Old Second Bancorp by 74.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider's stock valued at $24,599,000 after purchasing an additional 630,265 shares in the last quarter. Kennedy Capital Management LLC increased its stake in shares of Old Second Bancorp by 93.3% in the 2nd quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider's stock valued at $17,687,000 after purchasing an additional 481,302 shares in the last quarter. Nuveen LLC purchased a new position in shares of Old Second Bancorp in the 1st quarter valued at about $5,593,000. Stieven Capital Advisors L.P. increased its stake in shares of Old Second Bancorp by 74.3% in the 1st quarter. Stieven Capital Advisors L.P. now owns 716,228 shares of the financial services provider's stock valued at $11,918,000 after purchasing an additional 305,420 shares in the last quarter. Finally, Davis Asset Management L.P. increased its stake in shares of Old Second Bancorp by 25.9% in the 2nd quarter. Davis Asset Management L.P. now owns 1,384,502 shares of the financial services provider's stock valued at $24,561,000 after purchasing an additional 284,502 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company's stock.

Old Second Bancorp Stock Performance

OSBC traded down $0.22 on Thursday, reaching $18.04. 189,244 shares of the stock were exchanged, compared to its average volume of 192,609. The company's 50-day moving average price is $18.01 and its 200 day moving average price is $17.05. Old Second Bancorp has a fifty-two week low of $14.14 and a fifty-two week high of $19.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $949.81 million, a PE ratio of 9.86 and a beta of 0.85.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). The firm had revenue of $75.13 million for the quarter, compared to analyst estimates of $63.58 million. Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%. As a group, sell-side analysts forecast that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

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

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.