Zacks Investment Research upgraded shares of Old Second Bancorp (NASDAQ:OSBC) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $8.00 target price on the financial services provider’s stock.
According to Zacks, “Old Second Bancorp Inc.’s full service banking businesses include the customary consumer and commercial products and services which banks provide. The following services are included: demand, savings, time deposit, individual retirement and Keogh deposit accounts; commercial, industrial, consumer and real estate lending, including installment loans, student loans, farm loans, lines of credit and overdraft checking; safe deposit operations; trust services; and an extensive variety of additional services tailored to the needs of individual customers. “
Other analysts also recently issued reports about the company. BidaskClub raised Old Second Bancorp from a strong sell rating to a sell rating in a report on Sunday, June 7th. ValuEngine cut Old Second Bancorp from a hold rating to a sell rating in a research note on Thursday, April 30th. TheStreet lowered shares of Old Second Bancorp from a b- rating to a c+ rating in a research note on Tuesday, March 10th. Finally, Piper Sandler cut their price objective on shares of Old Second Bancorp from $11.00 to $9.00 and set an overweight rating on the stock in a report on Friday, April 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $11.50.
NASDAQ OSBC opened at $7.78 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.36. Old Second Bancorp has a 52 week low of $5.96 and a 52 week high of $13.77. The stock has a market capitalization of $212.24 million, a PE ratio of 7.55 and a beta of 1.47. The firm has a 50 day moving average of $7.48 and a two-hundred day moving average of $9.69.
Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The business had revenue of $28.98 million during the quarter, compared to analysts’ expectations of $30.83 million. Old Second Bancorp had a net margin of 20.87% and a return on equity of 14.41%. On average, equities research analysts expect that Old Second Bancorp will post 0.75 earnings per share for the current fiscal year.
In other news, CEO James Eccher acquired 12,033 shares of Old Second Bancorp stock in a transaction on Friday, May 1st. The stock was bought at an average price of $8.28 per share, for a total transaction of $99,633.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.83% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Panagora Asset Management Inc. boosted its stake in shares of Old Second Bancorp by 43.7% during the fourth quarter. Panagora Asset Management Inc. now owns 3,695 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,124 shares during the period. Valeo Financial Advisors LLC lifted its position in Old Second Bancorp by 104.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 4,466 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 2,279 shares during the period. Bank of Montreal Can grew its stake in shares of Old Second Bancorp by 34.3% in the 4th quarter. Bank of Montreal Can now owns 4,491 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,147 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Old Second Bancorp during the first quarter worth approximately $60,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Old Second Bancorp by 65.0% during the fourth quarter. Victory Capital Management Inc. now owns 7,730 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 3,046 shares during the period. Institutional investors own 71.82% of the company’s stock.
Old Second Bancorp Company Profile
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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