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

Key Points

• Old Second Bancorp has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a negative outlook for the stock.
• Despite the downgrade, several analysts, including DA Davidson and Weiss Ratings, have maintained a positive outlook with ratings ranging from "neutral" to "buy," showing mixed sentiment in the market.
• Old Second Bancorp reported earnings of $0.48 per share, slightly missing analysts' expectations, though it achieved revenue of $75.13 million, surpassing estimates of $63.58 million.

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

A number of other research analysts have also recently issued reports on the company. DA Davidson boosted their target price on Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Weiss Ratings reissued a "buy (b-)" rating on shares of Old Second Bancorp in a research note on Saturday, September 27th. Finally, Piper Sandler reissued an "overweight" rating and issued a $24.50 target price (up from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $21.38.

Old Second Bancorp Trading Up 0.9%

OSBC stock opened at $17.26 on Friday. The company has a market cap of $908.74 million, a P/E ratio of 9.43 and a beta of 0.80. Old Second Bancorp has a twelve month low of $14.14 and a twelve month high of $19.46. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $17.75 and a 200-day moving average of $17.12.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). Old Second Bancorp had a return on equity of 12.53% and a net margin of 24.38%.The firm had revenue of $75.13 million for the quarter, compared to the consensus estimate of $63.58 million. As a group, equities research analysts expect that Old Second Bancorp will post 1.86 EPS for the current year.

Institutional Trading of Old Second Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its stake in Old Second Bancorp by 458.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider's stock valued at $26,000 after buying an additional 1,215 shares during the period. Strs Ohio bought a new stake in Old Second Bancorp in the first quarter valued at approximately $88,000. GAMMA Investing LLC raised its stake in Old Second Bancorp by 4,125.0% in the first quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock valued at $90,000 after buying an additional 5,280 shares during the period. Quarry LP raised its stake in Old Second Bancorp by 145.5% in the first quarter. Quarry LP now owns 5,802 shares of the financial services provider's stock valued at $97,000 after buying an additional 3,439 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Old Second Bancorp by 446.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,306 shares of the financial services provider's stock valued at $112,000 after buying an additional 5,153 shares during the period. Institutional investors 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.

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