Wall Street brokerages forecast that Old Second Bancorp Inc. (NASDAQ:OSBC) will post $33.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Old Second Bancorp’s earnings, with estimates ranging from $33.00 million to $33.50 million. Old Second Bancorp reported sales of $31.55 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.6%. The company is expected to issue its next earnings report on Wednesday, October 23rd.

On average, analysts expect that Old Second Bancorp will report full-year sales of $131.10 million for the current financial year, with estimates ranging from $130.00 million to $132.00 million. For the next year, analysts expect that the firm will report sales of $136.70 million, with estimates ranging from $135.00 million to $138.60 million. Zacks’ sales averages are an average based on a survey of research firms that follow Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $32.90 million for the quarter, compared to analyst estimates of $32.60 million. Old Second Bancorp had a net margin of 24.90% and a return on equity of 15.20%.

Several brokerages have recently issued reports on OSBC. Raymond James set a $15.00 price objective on shares of Old Second Bancorp and gave the stock a “buy” rating in a research report on Friday, July 26th. BidaskClub downgraded shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Zacks Investment Research raised shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, FIG Partners raised shares of Old Second Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $14.50.

Shares of OSBC stock traded down $0.32 during trading hours on Friday, hitting $11.75. 2,810 shares of the company were exchanged, compared to its average volume of 63,001. The company has a 50 day moving average of $12.63. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.44. Old Second Bancorp has a 52 week low of $11.32 and a 52 week high of $15.75. The stock has a market cap of $364.14 million, a P/E ratio of 10.43, a PEG ratio of 1.44 and a beta of 0.96.

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 26th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Thursday, July 25th. Old Second Bancorp’s dividend payout ratio is currently 3.57%.

A number of hedge funds have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. raised its stake in Old Second Bancorp by 12.8% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 31,615 shares of the financial services provider’s stock valued at $404,000 after acquiring an additional 3,590 shares during the last quarter. Castine Capital Management LLC increased its position in Old Second Bancorp by 34.9% during the 2nd quarter. Castine Capital Management LLC now owns 637,098 shares of the financial services provider’s stock worth $8,136,000 after purchasing an additional 164,990 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Old Second Bancorp by 67.6% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 30,000 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 12,100 shares during the period. Northern Trust Corp grew its holdings in shares of Old Second Bancorp by 2.9% in the 2nd quarter. Northern Trust Corp now owns 362,210 shares of the financial services provider’s stock worth $4,625,000 after acquiring an additional 10,296 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Old Second Bancorp by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,120,425 shares of the financial services provider’s stock worth $14,308,000 after acquiring an additional 18,500 shares during the period. Hedge funds and other institutional investors own 68.01% of the company’s stock.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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Earnings History and Estimates for Old Second Bancorp (NASDAQ:OSBC)

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