Old Second Bancorp (NASDAQ:OSBC) Hits New 12-Month Low - Here's Why

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $15.46 and last traded at $15.79, with a volume of 261577 shares. The stock had previously closed at $16.14.

Wall Street Analysts Forecast Growth

OSBC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods dropped 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. Stephens reduced their target price 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. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $20.10.

Old Second Bancorp Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50 day simple moving average of $16.11 and a 200 day simple moving average of $17.43. The company has a market capitalization of $738.77 million, a PE ratio of 8.77 and a beta of 0.78.

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 business 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 13.73% and a net margin of 24.95%. Analysts anticipate that Old Second Bancorp, Inc. will post 1.86 earnings per share for the current 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 $0.06 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.24 annualized dividend and a dividend yield of 1.46%. Old Second Bancorp's dividend payout ratio is presently 13.11%.

Hedge Funds Weigh In On Old Second Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. boosted its stake in Old Second Bancorp by 3.9% during the first quarter. Alps Advisors Inc. now owns 21,698 shares of the financial services provider's stock worth $361,000 after buying an additional 808 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Old Second Bancorp by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider's stock valued at $441,000 after acquiring an additional 843 shares in the last quarter. Quarry LP raised its position in Old Second Bancorp by 70.1% in the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 974 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Old Second Bancorp by 3.1% in the first 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 lifted its position in shares of Old Second Bancorp by 20.2% during the 4th quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider's stock worth $134,000 after purchasing an additional 1,264 shares during the last quarter. Institutional investors and hedge funds own 67.76% of the company's stock.

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.