Old Second Bancorp (NASDAQ:OSBC) Downgraded to “Sell” at BidaskClub

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BidaskClub downgraded shares of Old Second Bancorp (NASDAQ:OSBC) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

OSBC has been the topic of a number of other reports. FIG Partners upgraded Old Second Bancorp from a market perform rating to an outperform rating in a research note on Monday, April 29th. Raymond James assumed coverage on Old Second Bancorp in a research note on Monday, April 8th. They issued an outperform rating and a $15.00 price target on the stock. Zacks Investment Research downgraded Old Second Bancorp from a buy rating to a hold rating in a research note on Tuesday. Finally, ValuEngine downgraded Old Second Bancorp from a hold rating to a sell rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $16.00.

Shares of OSBC stock opened at $12.40 on Tuesday. Old Second Bancorp has a twelve month low of $11.32 and a twelve month high of $16.30. The company has a market capitalization of $370.76 million, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.37 and a beta of 1.00. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). Old Second Bancorp had a net margin of 23.12% and a return on equity of 15.76%. The company had revenue of $30.52 million during the quarter, compared to analysts’ expectations of $32.23 million. On average, equities analysts expect that Old Second Bancorp will post 1.26 EPS for the current year.

In related news, EVP Keith Gottschalk sold 2,000 shares of Old Second Bancorp stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $13.07, for a total transaction of $26,140.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.83% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in shares of Old Second Bancorp in the first quarter valued at $60,000. Executive Wealth Management LLC purchased a new stake in shares of Old Second Bancorp in the fourth quarter worth about $62,000. Meeder Asset Management Inc. boosted its position in shares of Old Second Bancorp by 41.2% in the first quarter. Meeder Asset Management Inc. now owns 5,633 shares of the financial services provider’s stock worth $71,000 after buying an additional 1,644 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Old Second Bancorp by 499.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,046 shares of the financial services provider’s stock worth $76,000 after buying an additional 5,038 shares during the period. Finally, Ramsey Quantitative Systems boosted its position in shares of Old Second Bancorp by 83.9% in the fourth quarter. Ramsey Quantitative Systems now owns 6,436 shares of the financial services provider’s stock worth $84,000 after buying an additional 2,936 shares during the period. 68.72% of the stock is owned by institutional investors.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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