Old Second Bancorp Inc. (OSBC) Expected to Announce Quarterly Sales of $27.70 Million
Wall Street brokerages predict that Old Second Bancorp Inc. (NASDAQ:OSBC) will announce $27.70 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Old Second Bancorp’s earnings. The highest sales estimate is $28.40 million and the lowest is $27.00 million. Old Second Bancorp reported sales of $25.94 million during the same quarter last year, which indicates a positive year over year growth rate of 6.8%. The company is expected to issue its next quarterly earnings results on Monday, March 12th.
On average, analysts expect that Old Second Bancorp will report full-year sales of $27.70 million for the current financial year, with estimates ranging from $105.60 million to $109.20 million. For the next financial year, analysts expect that the business will report sales of $127.50 million per share. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Old Second Bancorp.
Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. Old Second Bancorp had a return on equity of 12.34% and a net margin of 19.91%.
A number of research analysts have weighed in on OSBC shares. Sandler O’Neill upgraded Old Second Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. ValuEngine lowered Old Second Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, October 21st. BidaskClub lowered Old Second Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Zacks Investment Research lowered Old Second Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $11.50 price objective on shares of Old Second Bancorp in a report on Tuesday, October 3rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $13.17.
In other Old Second Bancorp news, Director John Ladowicz sold 10,096 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $14.40, for a total value of $145,382.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 10,996 shares of company stock worth $157,874 in the last 90 days. 3.20% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in OSBC. Schwab Charles Investment Management Inc. lifted its holdings in Old Second Bancorp by 37.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 57,224 shares of the financial services provider’s stock valued at $661,000 after purchasing an additional 15,600 shares in the last quarter. Rhumbline Advisers lifted its holdings in Old Second Bancorp by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 34,251 shares of the financial services provider’s stock valued at $396,000 after purchasing an additional 725 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Old Second Bancorp by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 181,604 shares of the financial services provider’s stock valued at $2,098,000 after purchasing an additional 5,318 shares in the last quarter. Federated Investors Inc. PA increased its stake in shares of Old Second Bancorp by 8.7% in the 2nd quarter. Federated Investors Inc. PA now owns 38,176 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 3,043 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Old Second Bancorp by 93.5% in the 2nd quarter. Prudential Financial Inc. now owns 31,040 shares of the financial services provider’s stock worth $359,000 after acquiring an additional 15,000 shares during the last quarter. Institutional investors own 68.27% of the company’s stock.
Shares of Old Second Bancorp (OSBC) traded down $0.05 during trading hours on Friday, hitting $14.90. The stock had a trading volume of 84,749 shares, compared to its average volume of 101,068. Old Second Bancorp has a 52-week low of $9.65 and a 52-week high of $15.00. The stock has a market cap of $441.44, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 2.29 and a beta of 1.27. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.51.
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About Old Second Bancorp
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