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

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 analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $20.70.

OSBC has been the topic of a number of analyst reports. 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. 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. 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. 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, July 25th. Finally, Wall Street Zen upgraded shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th.

Hedge Funds Weigh In On Old Second Bancorp

A number of institutional investors have recently bought and sold shares of OSBC. Goldman Sachs Group Inc. grew its holdings in shares of Old Second Bancorp by 74.3% during 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 buying an additional 630,265 shares during the last quarter. Kennedy Capital Management LLC raised its position in Old Second Bancorp by 93.3% in the second quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider's stock worth $17,687,000 after acquiring an additional 481,302 shares during the period. Boothbay Fund Management LLC bought a new position in Old Second Bancorp in the fourth quarter worth approximately $6,084,000. Nuveen LLC bought a new position in Old Second Bancorp in the first quarter worth approximately $5,593,000. Finally, Stieven Capital Advisors L.P. raised its position in Old Second Bancorp by 74.3% in the first quarter. Stieven Capital Advisors L.P. now owns 716,228 shares of the financial services provider's stock worth $11,918,000 after acquiring an additional 305,420 shares during the period. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Stock Performance

Shares of Old Second Bancorp stock opened at $17.39 on Friday. The company has a market capitalization of $915.58 million, a PE ratio of 9.50 and a beta of 0.80. Old Second Bancorp has a 12 month low of $14.14 and a 12 month high of $19.46. The stock's fifty day simple moving average is $17.71 and its 200 day simple moving average is $17.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12.

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 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 predict that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

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