Old Second Bancorp Inc. (OSBC) Expected to Announce Quarterly Sales of $27.70 Million
Analysts expect Old Second Bancorp Inc. (NASDAQ:OSBC) to report sales of $27.70 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Old Second Bancorp’s earnings, with estimates ranging from $27.00 million to $28.40 million. Old Second Bancorp reported sales of $25.94 million in the same quarter last year, which indicates a positive year over year growth rate of 6.8%. The firm is scheduled to announce its next quarterly earnings report on Monday, March 26th.
According to Zacks, analysts expect that Old Second Bancorp will report full year sales of $27.70 million for the current fiscal year, with estimates ranging from $105.60 million to $109.20 million. For the next financial year, analysts anticipate that the business will post sales of $126.90 million per share, with estimates ranging from $117.20 million to $136.60 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Old Second Bancorp.
A number of analysts recently weighed in on the stock. BidaskClub raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 15th. ValuEngine raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded shares of Old Second Bancorp from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Thursday, January 4th. Keefe, Bruyette & Woods upgraded shares of Old Second Bancorp from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. Finally, Sandler O’Neill raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Old Second Bancorp presently has a consensus rating of “Buy” and an average target price of $13.17.
Several institutional investors have recently made changes to their positions in OSBC. Stone Ridge Asset Management LLC purchased a new stake in Old Second Bancorp during the fourth quarter worth approximately $161,000. Kennedy Capital Management Inc. purchased a new stake in Old Second Bancorp in the fourth quarter valued at approximately $166,000. Brandywine Global Investment Management LLC purchased a new stake in shares of Old Second Bancorp during the fourth quarter worth approximately $188,000. MetLife Investment Advisors LLC purchased a new stake in shares of Old Second Bancorp during the fourth quarter worth approximately $195,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of Old Second Bancorp during the fourth quarter worth approximately $207,000. 69.04% of the stock is owned by institutional investors and hedge funds.
Old Second Bancorp (NASDAQ:OSBC) opened at $14.20 on Friday. Old Second Bancorp has a 1-year low of $10.10 and a 1-year high of $15.00. The company has a market cap of $437.97, a PE ratio of 19.16, a PEG ratio of 2.02 and a beta of 0.77. 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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Old Second Bancorp Company Profile
Old Second Bancorp, Inc is a bank holding company. The Company conducts a full service community banking and trust business through its subsidiaries, including Old Second National Bank (the Bank), Old Second Capital Trust I, Old Second Capital Trust II and Old Second Affordable Housing Fund, LLC The Bank’s full service banking businesses include the customary consumer and commercial products and services that banking institutions provide, including demand, negotiable order of withdrawal, money market and individual retirement accounts; commercial, industrial, consumer and real estate lending, including installment loans, agricultural loans, lines of credit and overdraft checking; safe deposit operations, and a range of additional services tailored to the needs of individual customers, such as the acquisition of the United States Treasury notes and bonds, money orders, cashiers’ checks and foreign currency, direct deposit, debit cards, credit cards and other special services.
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