Analysts Set Old Second Bancorp, Inc. (NASDAQ:OSBC) PT at $20.70

Key Points

• Old Second Bancorp has received a consensus recommendation of "Buy" from five analysts, with an average 12-month price target of $20.70.
• Institutional investors have significantly increased their holdings, with Goldman Sachs and Kennedy Capital Management growing their positions by 74.3% and 93.3% respectively.
• The company recently declared a special dividend of $0.06 per share, which represents a substantial yield of 130.0%.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) has been assigned a consensus recommendation of "Buy" from the five ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $20.70.

Several equities analysts recently issued reports on OSBC shares. Keefe, Bruyette & Woods dropped 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. Wall Street Zen raised Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. DA Davidson raised their target price on Old Second Bancorp from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Piper Sandler reiterated an "overweight" rating and issued a $24.50 target price (up from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. Finally, Stephens cut their price target on Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, April 25th.

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Old Second Bancorp by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,711,390 shares of the financial services provider's stock worth $45,118,000 after purchasing an additional 73,672 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Old Second Bancorp by 7.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,019,433 shares of the financial services provider's stock worth $35,906,000 after acquiring an additional 134,455 shares in the last quarter. FJ Capital Management LLC grew its stake in Old Second Bancorp by 1.5% in the second quarter. FJ Capital Management LLC now owns 1,837,333 shares of the financial services provider's stock valued at $32,594,000 after acquiring an additional 26,613 shares during the period. Goldman Sachs Group Inc. grew its stake in Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider's stock valued at $24,599,000 after acquiring an additional 630,265 shares during the period. Finally, Davis Asset Management L.P. increased its holdings in shares of Old Second Bancorp by 25.9% during the second 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 acquiring an additional 284,502 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company's stock.

Old Second Bancorp Trading Up 0.2%

Shares of OSBC stock traded up $0.03 during mid-day trading on Friday, reaching $17.59. 148,190 shares of the stock traded hands, compared to its average volume of 211,703. Old Second Bancorp has a 1-year low of $14.14 and a 1-year high of $19.46. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12. The company has a market cap of $926.11 million, a price-to-earnings ratio of 9.61 and a beta of 0.80. The stock's fifty day simple moving average is $17.74 and its two-hundred day simple moving average is $17.12.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $75.13 million during the quarter, compared to the consensus estimate of $63.58 million. Old Second Bancorp had a net margin of 24.38% and a return on equity of 12.53%. On average, research analysts anticipate that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

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