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

Key Points

• Old Second Bancorp's stock has been reaffirmed with a "buy (B-)" rating by Weiss Ratings, indicating positive analyst sentiment towards the company.
• Analysts at Keefe, Bruyette & Woods increased their price target for the stock from $22.00 to $23.00, reflecting a bullish outlook.
• In its latest earnings report, Old Second Bancorp beat expectations with $0.53 earnings per share on revenues of $95.88 million, surpassing analyst estimates significantly.

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

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods boosted their price target on Old Second Bancorp from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday. Wall Street Zen raised Old Second Bancorp from a "sell" rating to a "hold" rating in a report on Saturday. DA Davidson boosted their price target on Old Second Bancorp from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Piper Sandler reissued an "overweight" rating and set a $24.50 price target (up previously from $22.00) on shares of Old Second Bancorp in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Old Second Bancorp presently has an average rating of "Buy" and a consensus price target of $21.63.

Old Second Bancorp Stock Performance

Shares of OSBC opened at $18.56 on Friday. The business has a fifty day moving average of $17.87 and a 200 day moving average of $17.27. Old Second Bancorp has a one year low of $14.14 and a one year high of $19.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $977.18 million, a P/E ratio of 12.29 and a beta of 0.80.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. Old Second Bancorp had a return on equity of 13.10% and a net margin of 18.89%.The business had revenue of $95.88 million during the quarter, compared to analyst estimates of $80.45 million. As a group, sell-side analysts anticipate that Old Second Bancorp will post 1.86 EPS for the current year.

Institutional Investors Weigh In On Old Second Bancorp

A number of hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of Old Second Bancorp in the third quarter worth about $30,000. River Street Advisors LLC purchased a new stake in shares of Old Second Bancorp in the third quarter worth about $6,637,000. Mather Group LLC. purchased a new stake in shares of Old Second Bancorp in the third quarter worth about $67,000. CWM LLC lifted its position in shares of Old Second Bancorp by 25.2% in the third quarter. CWM LLC now owns 24,358 shares of the financial services provider's stock worth $421,000 after buying an additional 4,907 shares in the last quarter. Finally, Sara Bay Financial purchased a new stake in shares of Old Second Bancorp in the third quarter worth about $1,712,000. 67.76% of the stock is currently owned by hedge funds and other 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.

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