Old Second Bancorp (NASDAQ:OSBC) Given New $22.00 Price Target at Keefe, Bruyette & Woods

Old Second Bancorp (NASDAQ:OSBC - Free Report) had its price objective decreased by Keefe, Bruyette & Woods from $24.00 to $22.00 in a report issued on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider's stock.

Separately, Stephens boosted their price objective on Old Second Bancorp from $21.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. One analyst has 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.com, the stock presently has an average rating of "Buy" and an average target price of $20.10.

Old Second Bancorp Price Performance

Shares of NASDAQ:OSBC traded down $0.35 during midday trading on Friday, hitting $15.79. The stock had a trading volume of 261,577 shares, compared to its average volume of 235,787. The company's 50-day moving average price is $16.27 and its 200-day moving average price is $17.43. The company has a market capitalization of $711.29 million, a P/E ratio of 8.44 and a beta of 0.84. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp has a fifty-two week low of $13.27 and a fifty-two week high of $19.46.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. The firm had revenue of $73.57 million for the quarter, compared to the consensus estimate of $60.00 million. As a group, equities research analysts predict that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, April 25th. Old Second Bancorp's dividend payout ratio is currently 13.11%.

Hedge Funds Weigh In On Old Second Bancorp

Institutional investors have recently modified their holdings of the company. Alps Advisors Inc. lifted its stake in shares of Old Second Bancorp by 3.9% in the 1st quarter. Alps Advisors Inc. now owns 21,698 shares of the financial services provider's stock valued at $361,000 after acquiring an additional 808 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Old Second Bancorp by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider's stock valued at $441,000 after buying an additional 843 shares during the last quarter. Quarry LP boosted its position in Old Second Bancorp by 70.1% during the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock valued at $42,000 after buying an additional 974 shares during the period. Principal Financial Group Inc. grew its holdings in Old Second Bancorp by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 36,434 shares of the financial services provider's stock worth $606,000 after acquiring an additional 1,109 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in Old Second Bancorp by 20.2% in the 4th quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider's stock worth $134,000 after acquiring an additional 1,264 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

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.