Old Second Bancorp (NASDAQ:OSBC) Stock Rating Upgraded by Wall Street Zen

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

Several other research analysts have also commented on the company. Stephens lowered their price target on Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Keefe, Bruyette & Woods dropped their price objective on shares of 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. Finally, Piper Sandler reissued an "overweight" rating and set a $24.50 price objective (up from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.50.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC traded up $0.08 during trading on Friday, hitting $18.66. The company had a trading volume of 171,512 shares, compared to its average volume of 250,224. The stock has a fifty day simple moving average of $17.46 and a two-hundred day simple moving average of $17.23. Old Second Bancorp has a fifty-two week low of $14.14 and a fifty-two week high of $19.46. The firm has a market capitalization of $840.82 million, a price-to-earnings ratio of 10.20 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12.

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). Old Second Bancorp had a return on equity of 12.87% and a net margin of 24.52%. The business had revenue of $73.57 million for the quarter, compared to analyst estimates of $60.00 million. On average, research analysts expect that Old Second Bancorp will post 1.86 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OSBC. Goldman Sachs Group Inc. boosted its holdings in shares of 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 period. Boothbay Fund Management LLC bought a new stake in shares of Old Second Bancorp during the 4th quarter worth about $6,084,000. Nuveen LLC bought a new stake in shares of Old Second Bancorp during the 1st quarter worth about $5,593,000. Stieven Capital Advisors L.P. raised its holdings in shares of Old Second Bancorp by 74.3% in the 1st quarter. Stieven Capital Advisors L.P. now owns 716,228 shares of the financial services provider's stock worth $11,918,000 after purchasing an additional 305,420 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Old Second Bancorp by 452.4% in the 4th quarter. Millennium Management LLC now owns 308,223 shares of the financial services provider's stock worth $5,480,000 after purchasing an additional 252,430 shares in the last quarter. 67.76% of the stock is owned by institutional investors and hedge funds.

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.