Old Second Bancorp (NASDAQ:OSBC) Raised to "Moderate Buy" at Raymond James Financial

Key Points

• Raymond James Financial upgraded Old Second Bancorp to a “moderate buy,” adding to a generally positive analyst view on the stock.
• The broader analyst consensus remains Moderate Buy, with five Buy ratings and one Hold, and a consensus price target of $24.20.
• Old Second Bancorp’s latest quarter missed earnings and revenue estimates, reporting EPS of $0.49 versus $0.52 expected and revenue of $93.77 million versus $94.80 million expected.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) was upgraded by research analysts at Raymond James Financial to a "moderate buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on OSBC. Weiss Ratings reissued a "buy (b)" rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Piper Sandler increased their target price on shares of Old Second Bancorp from $25.00 to $26.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Finally, Stephens started coverage on Old Second Bancorp in a research note on Friday, March 27th. They issued an "overweight" rating and a $23.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Old Second Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $24.20.

Old Second Bancorp Stock Performance

Shares of OSBC stock opened at $22.71 on Tuesday. The business's 50 day simple moving average is $21.74 and its 200 day simple moving average is $20.79. Old Second Bancorp has a one year low of $16.42 and a one year high of $23.95. The stock has a market capitalization of $1.17 billion, a PE ratio of 13.52 and a beta of 0.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.03). The firm had revenue of $93.77 million for the quarter, compared to the consensus estimate of $94.80 million. Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%. As a group, research analysts forecast that Old Second Bancorp will post 2.16 earnings per share for the current year.

Hedge Funds Weigh In On Old Second Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OSBC. Parallel Advisors LLC increased its stake in shares of Old Second Bancorp by 181.3% in the first quarter. Parallel Advisors LLC now owns 2,622 shares of the financial services provider's stock worth $53,000 after purchasing an additional 1,690 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Old Second Bancorp by 67.8% in the 1st quarter. Janus Henderson Group PLC now owns 26,232 shares of the financial services provider's stock worth $529,000 after buying an additional 10,597 shares during the period. Amundi bought a new position in Old Second Bancorp in the 1st quarter worth approximately $276,000. Empowered Funds LLC grew its stake in Old Second Bancorp by 6.1% in the 1st quarter. Empowered Funds LLC now owns 233,559 shares of the financial services provider's stock valued at $4,709,000 after buying an additional 13,438 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Old Second Bancorp by 58.8% during the 1st quarter. Quantinno Capital Management LP now owns 49,879 shares of the financial services provider's stock valued at $1,006,000 after acquiring an additional 18,461 shares during the period. Institutional investors own 67.76% of the company's stock.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.