Old Second Bancorp (NASDAQ:OSBC) Price Target Raised to $22.00

Old Second Bancorp (NASDAQ:OSBC) had its target price upped by Stephens from $21.00 to $22.00 in a research note released on Wednesday morning,Benzinga reports. Stephens currently has an overweight rating on the financial services provider’s stock.

Separately, Raymond James raised shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $20.90.

Old Second Bancorp Price Performance

OSBC stock opened at $18.34 on Wednesday. The company has a fifty day moving average price of $18.33 and a 200-day moving average price of $17.43. The company has a market capitalization of $822.60 million, a P/E ratio of 9.81 and a beta of 1.07. Old Second Bancorp has a 52-week low of $13.00 and a 52-week high of $19.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. As a group, equities analysts expect that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 31st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, January 31st. Old Second Bancorp’s dividend payout ratio (DPR) is currently 12.83%.

Insider Buying and Selling at Old Second Bancorp

In related news, Director Rocks Patti Temple purchased 5,625 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of $17.79 per share, with a total value of $100,068.75. Following the completion of the purchase, the director now owns 18,679 shares in the company, valued at approximately $332,299.41. This trade represents a 43.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Old Second Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of OSBC. Quarry LP grew its holdings in shares of Old Second Bancorp by 70.1% during the fourth quarter. Quarry LP now owns 2,363 shares of the financial services provider’s stock valued at $42,000 after buying an additional 974 shares during the last quarter. R Squared Ltd acquired a new position in shares of Old Second Bancorp during the fourth quarter valued at about $96,000. Quantbot Technologies LP grew its holdings in shares of Old Second Bancorp by 134.0% during the third quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock valued at $98,000 after buying an additional 3,587 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Old Second Bancorp during the third quarter valued at about $101,000. Finally, Aquatic Capital Management LLC grew its holdings in shares of Old Second Bancorp by 47.3% during the fourth quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider’s stock valued at $141,000 after buying an additional 2,556 shares during the last quarter. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Company Profile

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.