Old Second Bancorp (NASDAQ:OSBC) Downgraded by Wall Street Zen to Sell

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

A number of other research analysts have also recently commented on the company. Stephens dropped their price target on 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. Keefe, Bruyette & Woods reduced their price objective on Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $20.10.

Old Second Bancorp Price Performance

Shares of Old Second Bancorp stock traded up $0.60 during trading on Friday, reaching $18.34. 362,141 shares of the company's stock were exchanged, compared to its average volume of 257,189. The firm's 50-day moving average price is $16.72 and its 200 day moving average price is $17.14. The company has a market cap of $826.40 million, a P/E ratio of 10.02 and a beta of 0.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. Old Second Bancorp has a 1-year low of $14.14 and a 1-year high of $19.46.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The company had revenue of $73.57 million for the quarter, compared to the consensus estimate of $60.00 million. Old Second Bancorp had a net margin of 24.52% and a return on equity of 12.87%. As a group, research analysts anticipate that Old Second Bancorp will post 1.86 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in shares of Old Second Bancorp by 3.0% in the fourth quarter. Rhumbline Advisers now owns 71,545 shares of the financial services provider's stock valued at $1,272,000 after buying an additional 2,099 shares during the period. Principal Financial Group Inc. raised its holdings in Old Second Bancorp by 9.6% during the 4th quarter. Principal Financial Group Inc. now owns 35,325 shares of the financial services provider's stock worth $628,000 after purchasing an additional 3,082 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Old Second Bancorp by 15.1% in the 4th quarter. New York State Common Retirement Fund now owns 11,466 shares of the financial services provider's stock worth $204,000 after purchasing an additional 1,500 shares during the period. Ieq Capital LLC acquired a new position in shares of Old Second Bancorp in the 4th quarter worth approximately $230,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Old Second Bancorp by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,480 shares of the financial services provider's stock valued at $6,516,000 after purchasing an additional 8,134 shares during the last quarter. 67.76% of the stock is owned by institutional investors and hedge funds.

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.