Old Second Bancorp (NASDAQ:OSBC) Coverage Initiated at Stephens

Research analysts at Stephens started coverage on shares of Old Second Bancorp (NASDAQ:OSBC) in a research note issued on Friday. The brokerage set an “overweight” rating and a $23.00 price target on the financial services provider’s stock. Stephens’ target price indicates a potential upside of 18.17% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. DA Davidson boosted their target price on Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Old Second Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $23.38.

Old Second Bancorp Price Performance

Old Second Bancorp stock traded down $0.24 during mid-day trading on Friday, hitting $19.46. The company’s stock had a trading volume of 18,459 shares, compared to its average volume of 372,224. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.03 billion, a P/E ratio of 11.99 and a beta of 0.79. Old Second Bancorp has a twelve month low of $14.14 and a twelve month high of $22.00. The stock’s fifty day moving average price is $20.11 and its two-hundred day moving average price is $19.20.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $82.49 million. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%. Research analysts forecast that Old Second Bancorp will post 1.86 earnings per share for the current year.

Insider Activity at Old Second Bancorp

In related news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $20.98, for a total transaction of $41,960.00. Following the transaction, the executive vice president directly owned 24,874 shares of the company’s stock, valued at approximately $521,856.52. The trade was a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Darin Patrick Campbell sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total transaction of $732,900.00. Following the completion of the transaction, the insider owned 274,589 shares in the company, valued at approximately $5,749,893.66. This represents a 11.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 37,091 shares of company stock valued at $776,744. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors and hedge funds have recently modified their holdings of OSBC. Harbour Investments Inc. purchased a new stake in shares of Old Second Bancorp during the fourth quarter worth $26,000. Rockefeller Capital Management L.P. purchased a new position in Old Second Bancorp in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its stake in Old Second Bancorp by 458.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,215 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Old Second Bancorp in the 3rd quarter worth about $30,000. Finally, Parkside Financial Bank & Trust acquired a new position in Old Second Bancorp in the 4th quarter worth about $45,000. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

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.