Old Second Bancorp (NASDAQ:OSBC) Given Overweight Rating at Piper Sandler

Piper Sandler restated their overweight rating on shares of Old Second Bancorp (NASDAQ:OSBC - Free Report) in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a $24.50 price objective on the financial services provider's stock, up from their prior price objective of $22.00.

A number of other brokerages have also weighed in on OSBC. Keefe, Bruyette & Woods lowered their target price 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. Wall Street Zen lowered shares of Old Second Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 28th. Finally, Stephens lowered their price objective on shares of Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.50.

Old Second Bancorp Stock Up 1.0%

Shares of NASDAQ OSBC traded up $0.18 during trading on Wednesday, hitting $19.08. 287,070 shares of the company traded hands, compared to its average volume of 257,811. The firm has a market capitalization of $859.74 million, a price-to-earnings ratio of 10.43 and a beta of 0.81. The business's fifty day moving average is $16.79 and its 200 day moving average is $17.15. 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 fifty-two week low of $14.14 and a fifty-two week high of $19.46.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $73.57 million for the quarter, compared to analyst estimates of $60.00 million. Old Second Bancorp had a return on equity of 12.87% and a net margin of 24.52%. Equities research analysts predict that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.24 annualized dividend and a yield of 1.26%. Old Second Bancorp's dividend payout ratio (DPR) is currently 13.11%.

Hedge Funds Weigh In On Old Second Bancorp

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Old Second Bancorp by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,711,390 shares of the financial services provider's stock valued at $45,118,000 after purchasing an additional 73,672 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Old Second Bancorp by 7.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,019,433 shares of the financial services provider's stock worth $35,906,000 after purchasing an additional 134,455 shares during the last quarter. FJ Capital Management LLC grew its position in Old Second Bancorp by 0.8% in the 1st quarter. FJ Capital Management LLC now owns 1,810,720 shares of the financial services provider's stock worth $30,130,000 after purchasing an additional 15,108 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Old Second Bancorp by 74.3% in the 1st 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. Finally, American Century Companies Inc. lifted its position in shares of Old Second Bancorp by 9.7% during the 1st quarter. American Century Companies Inc. now owns 1,139,741 shares of the financial services provider's stock worth $18,965,000 after buying an additional 101,246 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors.

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.