Wall Street Zen Upgrades Old Second Bancorp (NASDAQ:OSBC) to "Hold"

Key Points

• Wall Street Zen has upgraded Old Second Bancorp from a "sell" to a "hold" rating, reflecting a more positive outlook on the stock.
• Several analysts, including Keefe, Bruyette & Woods, have raised their price targets for Old Second Bancorp, bringing the consensus target price to $21.63.
• Old Second Bancorp reported a quarterly earnings per share of $0.53, exceeding analyst expectations, with revenue of $95.88 million for the quarter.

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

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods raised their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday. Weiss Ratings reissued a "buy (b-)" rating on shares of Old Second Bancorp in a research note on Wednesday, October 8th. Piper Sandler reissued an "overweight" rating and set a $24.50 price target (up from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. Finally, DA Davidson lifted their target price on shares of Old Second Bancorp from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $21.63.

Old Second Bancorp Trading Up 3.9%

NASDAQ OSBC opened at $18.56 on Friday. The stock's 50-day simple moving average is $17.87 and its two-hundred day simple moving average is $17.25. 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 company has a market capitalization of $977.18 million, a price-to-earnings 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 for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The business had revenue of $95.88 million for the quarter, compared to the consensus estimate of $80.45 million. Old Second Bancorp had a return on equity of 13.10% and a net margin of 18.89%. Research analysts forecast that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position 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 acquiring an additional 1,215 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Old Second Bancorp in the third quarter valued at about $30,000. Mather Group LLC. purchased a new position in shares of Old Second Bancorp in the third quarter valued at about $67,000. Strs Ohio purchased a new position in Old Second Bancorp during the 1st quarter valued at about $88,000. Finally, Quarry LP increased its holdings in Old Second Bancorp by 145.5% during the 1st quarter. Quarry LP now owns 5,802 shares of the financial services provider's stock valued at $97,000 after purchasing an additional 3,439 shares during the period. 67.76% of the stock is owned by hedge funds and other institutional investors.

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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