Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives $22.63 Average Target Price from Analysts

Old Second Bancorp, Inc. (NASDAQ:OSBC) has received an average rating of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $22.6250.

Several brokerages have issued reports on OSBC. Keefe, Bruyette & Woods raised 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, October 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, DA Davidson upped their price target on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd.

Insiders Place Their Bets

In related news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $20.98, for a total value of $41,960.00. Following the completion of the sale, the executive vice president directly owned 24,874 shares in the company, valued at $521,856.52. The trade was a 7.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its holdings in Old Second Bancorp by 74.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after acquiring an additional 630,265 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Old Second Bancorp by 20.4% in the third quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock worth $56,522,000 after purchasing an additional 553,169 shares during the period. Kennedy Capital Management LLC increased its position in shares of Old Second Bancorp by 93.3% in the second quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider’s stock worth $17,687,000 after purchasing an additional 481,302 shares during the period. River Street Advisors LLC acquired a new position in Old Second Bancorp in the third quarter valued at about $6,637,000. Finally, Davis Asset Management L.P. lifted its position in Old Second Bancorp by 25.9% during the second quarter. Davis Asset Management L.P. now owns 1,384,502 shares of the financial services provider’s stock worth $24,561,000 after purchasing an additional 284,502 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC opened at $20.64 on Friday. The business’s 50 day moving average price is $20.22 and its two-hundred day moving average price is $18.72. The company has a market cap of $1.09 billion, a PE ratio of 12.66 and a beta of 0.82. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. Old Second Bancorp has a twelve month low of $14.14 and a twelve month high of $22.00.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Old Second Bancorp had a return on equity of 13.36% and a net margin of 20.00%.The company had revenue of $95.21 million during the quarter, compared to analysts’ expectations of $82.49 million. On average, analysts predict that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Friday, January 30th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. Old Second Bancorp’s dividend payout ratio is presently 17.18%.

About Old Second Bancorp

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.