DA Davidson Boosts Old Second Bancorp (NASDAQ:OSBC) Price Target to $25.00

Old Second Bancorp (NASDAQ:OSBC) had its price target upped by analysts at DA Davidson from $24.00 to $25.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective indicates a potential upside of 4.04% from the company’s current price.

Several other research firms also recently weighed in on OSBC. Piper Sandler upped their price objective on shares of Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Stephens initiated coverage on shares of Old Second Bancorp in a research note on Friday, March 27th. They set an “overweight” rating and a $23.00 target price on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Finally, Raymond James Financial began coverage on shares of Old Second Bancorp in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.60.

Old Second Bancorp Price Performance

Shares of Old Second Bancorp stock opened at $24.03 on Friday. The business’s fifty day moving average price is $22.35 and its two-hundred day moving average price is $21.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $1.24 billion, a P/E ratio of 13.81 and a beta of 0.70. Old Second Bancorp has a 1-year low of $16.42 and a 1-year high of $24.21.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $96.59 million during the quarter, compared to analyst estimates of $94.88 million. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%. As a group, research analysts forecast that Old Second Bancorp will post 2.17 EPS for the current year.

Hedge Funds Weigh In On Old Second Bancorp

A number of hedge funds have recently added to or reduced their stakes in OSBC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 1,067 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Old Second Bancorp by 74.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock worth $24,599,000 after acquiring an additional 630,265 shares during the period. Empowered Funds LLC grew its position in Old Second Bancorp by 38.7% in the 1st quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider’s stock worth $2,794,000 after purchasing an additional 46,890 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Old Second Bancorp in the first quarter valued at about $1,378,000. Finally, Strs Ohio bought a new stake in shares of Old Second Bancorp in the 1st quarter worth approximately $88,000. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

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.