Stephens Reaffirms Overweight Rating for Old Second Bancorp (NASDAQ:OSBC)

Old Second Bancorp (NASDAQ:OSBC)‘s stock had its “overweight” rating restated by equities research analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They currently have a $21.00 price objective on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 14.01% from the company’s previous close.

Several other research firms also recently weighed in on OSBC. Piper Sandler boosted their price target on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Raymond James upgraded Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, DA Davidson set a $18.00 price target on shares of Old Second Bancorp in a research report on Thursday, October 17th.

Old Second Bancorp Stock Performance

Shares of Old Second Bancorp stock opened at $18.42 on Thursday. The company has a 50 day moving average price of $18.19 and a 200 day moving average price of $16.98. The firm has a market capitalization of $826.14 million, a P/E ratio of 9.85 and a beta of 1.08. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp has a 52 week low of $13.00 and a 52 week high of $19.37.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. Sell-side analysts expect that Old Second Bancorp will post 1.86 EPS for the current year.

Insider Buying and Selling at Old Second Bancorp

In other Old Second Bancorp news, Director Rocks Patti Temple purchased 5,625 shares of the stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the completion of the transaction, the director now owns 18,679 shares of the company’s stock, valued at $332,299.41. This trade represents a 43.09 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Old Second Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd acquired a new position in shares of Old Second Bancorp during the 4th quarter worth about $96,000. Quantbot Technologies LP boosted its holdings in Old Second Bancorp by 134.0% in the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after buying an additional 3,587 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Old Second Bancorp during the 3rd quarter worth approximately $101,000. CWM LLC raised its holdings in shares of Old Second Bancorp by 36.3% during the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 2,123 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Old Second Bancorp in the third quarter valued at approximately $158,000. 67.76% of the stock is currently owned by hedge funds and other 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.