Old Second Bancorp (NASDAQ:OSBC) Issues Quarterly Earnings Results

Old Second Bancorp (NASDAQ:OSBC) released its quarterly earnings data on Thursday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01), Yahoo Finance reports. The company had revenue of $83.83 million during the quarter, compared to analysts’ expectations of $69.50 million. Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%.

Old Second Bancorp Price Performance

Shares of OSBC opened at $14.43 on Friday. Old Second Bancorp has a 1-year low of $10.79 and a 1-year high of $16.76. The stock has a market cap of $646.46 million, a PE ratio of 7.32 and a beta of 1.10. The firm has a 50-day simple moving average of $13.51 and a two-hundred day simple moving average of $14.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82.

Old Second Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 26th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, April 25th. Old Second Bancorp’s dividend payout ratio is presently 10.15%.

Institutional Investors Weigh In On Old Second Bancorp

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in shares of Old Second Bancorp by 11.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 80,334 shares of the financial services provider’s stock valued at $1,166,000 after acquiring an additional 8,231 shares during the last quarter. Mariner LLC increased its position in shares of Old Second Bancorp by 13.0% during the first quarter. Mariner LLC now owns 42,960 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 4,945 shares during the last quarter. EJF Capital LLC grew its holdings in shares of Old Second Bancorp by 140.4% in the first quarter. EJF Capital LLC now owns 849,682 shares of the financial services provider’s stock valued at $12,329,000 after purchasing an additional 496,218 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Old Second Bancorp by 9.8% in the first quarter. First Trust Advisors LP now owns 14,624 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 1,302 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Old Second Bancorp by 73.9% in the first quarter. Prudential Financial Inc. now owns 57,188 shares of the financial services provider’s stock valued at $830,000 after purchasing an additional 24,300 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Raymond James raised shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research report on Thursday, April 4th. Stephens reissued an “overweight” rating and issued a $17.00 price objective on shares of Old Second Bancorp in a research report on Friday.

About Old Second Bancorp

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.