Old Second Bancorp (NASDAQ:OSBC) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01), Zacks reports. The firm had revenue of $75.13 million during the quarter, compared to analysts' expectations of $63.58 million. Old Second Bancorp had a return on equity of 12.73% and a net margin of 24.38%.

Old Second Bancorp Stock Up 0.4%

NASDAQ OSBC traded up $0.07 during trading hours on Friday, hitting $17.85. The company had a trading volume of 252,846 shares, compared to its average volume of 225,709. The firm's 50 day moving average is $17.55 and its 200 day moving average is $17.25. 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 company has a market capitalization of $804.32 million, a price-to-earnings ratio of 9.75 and a beta of 0.81. Old Second Bancorp has a fifty-two week low of $14.14 and a fifty-two week high of $19.46.

Old Second Bancorp Announces Dividend

The business also recently declared a special dividend, which will be paid on Monday, August 4th. Investors of record on Friday, July 25th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a yield of 1.3%. Old Second Bancorp's dividend payout ratio is currently 13.11%.

Institutional Trading of Old Second Bancorp

Several large investors have recently modified their holdings of OSBC. Goldman Sachs Group Inc. grew its stake 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 acquiring an additional 630,265 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Old Second Bancorp during the first quarter valued at about $1,378,000. Empowered Funds LLC grew its stake in shares of Old Second Bancorp by 38.7% during the first quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider's stock valued at $2,794,000 after acquiring an additional 46,890 shares in the last quarter. Strs Ohio acquired a new stake in shares of Old Second Bancorp during the first quarter valued at about $88,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Old Second Bancorp by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider's stock valued at $430,000 after acquiring an additional 1,067 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OSBC shares. Piper Sandler reaffirmed an "overweight" rating and issued a $24.50 target price (up from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. Stephens lowered their price target on Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Wall Street Zen upgraded Old Second Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. DA Davidson increased their price target on Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Friday. Finally, Keefe, Bruyette & Woods lowered their price target on Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $20.70.

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.