Old Second Bancorp (NASDAQ:OSBC) Announces Earnings Results

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

Old Second Bancorp Price Performance

Shares of NASDAQ:OSBC traded up $0.04 on Friday, hitting $17.76. The company's stock had a trading volume of 123,865 shares, compared to its average volume of 227,587. The company has a market capitalization of $800.04 million, a PE ratio of 9.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.85 and a quick ratio of 0.85. Old Second Bancorp has a 1 year low of $14.14 and a 1 year high of $19.46. The company has a 50-day simple moving average of $17.53 and a 200 day simple moving average of $17.25.

Old Second Bancorp Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Monday, August 4th. Investors of record on Friday, July 25th will be issued a dividend of $0.06 per share. 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 (DPR) is 13.11%.

Hedge Funds Weigh In On Old Second Bancorp

A number of large investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in shares of Old Second Bancorp in the 1st quarter worth approximately $88,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 purchasing an additional 1,067 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Old Second Bancorp during the first quarter valued at $1,378,000. Empowered Funds LLC lifted its holdings in Old Second Bancorp by 38.7% in 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 during the period. Finally, Goldman Sachs Group Inc. lifted its holdings 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. 67.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OSBC has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Piper Sandler reaffirmed an "overweight" rating and set a $24.50 price target (up from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. Wall Street Zen raised Old Second Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Stephens dropped their target price 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. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Old Second Bancorp has an average rating of "Moderate Buy" and a consensus price target of $20.50.

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.