Old Second Bancorp (NASDAQ:OSBC) Price Target Raised to $23.00 at DA Davidson

Old Second Bancorp (NASDAQ:OSBC) had its target price lifted by analysts at DA Davidson from $22.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price target indicates a potential upside of 12.49% from the company’s previous close.

Other equities analysts have also issued reports about the company. Wall Street Zen raised Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their target price on Old Second Bancorp from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Old Second Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $22.63.

Old Second Bancorp Trading Down 3.8%

Shares of Old Second Bancorp stock traded down $0.81 during mid-day trading on Friday, hitting $20.45. 62,868 shares of the stock were exchanged, compared to its average volume of 344,799. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 12.53 and a beta of 0.82. Old Second Bancorp has a twelve month low of $14.14 and a twelve month high of $22.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12. The company has a 50-day simple moving average of $19.76 and a 200 day simple moving average of $18.57.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share 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 firm had revenue of $95.21 million for the quarter, compared to analysts’ expectations of $82.49 million. Research analysts forecast that Old Second Bancorp will post 1.86 EPS for the current year.

Insider Activity

In related news, insider Darin Patrick Campbell sold 31,159 shares of Old Second Bancorp stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $17.89, for a total value of $557,434.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OSBC. Nisa Investment Advisors LLC raised its holdings in shares of Old Second Bancorp by 12.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 540 shares during the period. SG Americas Securities LLC raised its holdings in Old Second Bancorp by 29.1% in the 4th quarter. SG Americas Securities LLC now owns 22,521 shares of the financial services provider’s stock valued at $439,000 after acquiring an additional 5,083 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Old Second Bancorp in the 3rd quarter worth approximately $376,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Old Second Bancorp during the 3rd quarter worth approximately $185,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Old Second Bancorp by 15.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 17,409 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 2,309 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

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.