Old Second Bancorp (NASDAQ:OSBC) Given New $25.00 Price Target at DA Davidson

Old Second Bancorp (NASDAQ:OSBC) had its target price lifted by DA Davidson from $24.00 to $25.00 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on OSBC. Stephens started coverage on Old Second Bancorp in a research report on Friday, March 27th. They set an “overweight” rating and a $23.00 price objective for the company. Piper Sandler upped their target price on Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Finally, Raymond James Financial started coverage on Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price target for the company. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.60.

Old Second Bancorp Price Performance

OSBC stock opened at $24.03 on Friday. The company has a 50 day moving average of $22.35 and a two-hundred day moving average of $21.08. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 13.81 and a beta of 0.70. Old Second Bancorp has a 12-month low of $16.42 and a 12-month high of $24.21. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. The business had revenue of $96.59 million for the quarter, compared to analysts’ expectations of $94.88 million. On average, equities analysts anticipate that Old Second Bancorp will post 2.17 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, July 31st. Old Second Bancorp’s dividend payout ratio (DPR) is 16.09%.

Institutional Trading of Old Second Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC increased its holdings in shares of Old Second Bancorp by 1.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 493 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Old Second Bancorp by 12.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 540 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Old Second Bancorp by 32.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 622 shares during the period. Russell Investments Group Ltd. boosted its position in Old Second Bancorp by 0.8% during the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock worth $2,186,000 after purchasing an additional 908 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Old Second Bancorp by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 1,067 shares during the period. Institutional investors and hedge funds own 67.76% of the company’s stock.

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.