Old Second Bancorp's (OSBC) Buy (B-) Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "buy (B-)" rating for Old Second Bancorp (OSBC), indicating ongoing analyst confidence in the stock.
• Piper Sandler raised its target price for Old Second Bancorp to $24.50, while the current consensus rating for the stock remains a "Buy" with an average price target of $21.38.
• Old Second Bancorp's recent quarterly earnings showed EPS of $0.48, slightly below the consensus estimate of $0.49, despite higher-than-expected revenue of $75.13 million.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other research firms also recently issued reports on OSBC. Piper Sandler reaffirmed an "overweight" rating and issued a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. Wall Street Zen downgraded Old Second Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, October 4th. Finally, DA Davidson lifted their target price on Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Old Second Bancorp currently has a consensus rating of "Buy" and an average price target of $21.38.

Old Second Bancorp Stock Performance

OSBC opened at $17.27 on Wednesday. The business's 50-day moving average price is $17.74 and its two-hundred day moving average price is $17.13. Old Second Bancorp has a 1 year low of $14.14 and a 1 year high of $19.46. The company has a market capitalization of $909.27 million, a price-to-earnings ratio of 9.44 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.85 and a quick ratio of 0.85.

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

Institutional Investors Weigh In On Old Second Bancorp

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of 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 during the first quarter worth $88,000. GAMMA Investing LLC lifted its stake in Old Second Bancorp by 4,125.0% during the first quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock worth $90,000 after purchasing an additional 5,280 shares during the last quarter. Quarry LP lifted its stake in Old Second Bancorp by 145.5% during the first quarter. Quarry LP now owns 5,802 shares of the financial services provider's stock worth $97,000 after purchasing an additional 3,439 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Old Second Bancorp by 446.9% during the second quarter. Tower Research Capital LLC TRC now owns 6,306 shares of the financial services provider's stock worth $112,000 after purchasing an additional 5,153 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.