Brokerages Expect Old Second Bancorp Inc. (OSBC) Will Announce Earnings of $0.30 Per Share

Wall Street brokerages predict that Old Second Bancorp Inc. (NASDAQ:OSBC) will announce earnings per share (EPS) of $0.30 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Old Second Bancorp’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.29. Old Second Bancorp reported earnings per share of $0.23 during the same quarter last year, which would suggest a positive year-over-year growth rate of 30.4%. The firm is expected to report its next quarterly earnings results on Wednesday, January 23rd.

According to Zacks, analysts expect that Old Second Bancorp will report full-year earnings of $1.17 per share for the current year, with EPS estimates ranging from $1.15 to $1.19. For the next year, analysts anticipate that the business will post earnings of $1.26 per share, with EPS estimates ranging from $1.24 to $1.28. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. Old Second Bancorp had a return on equity of 16.32% and a net margin of 17.04%. The business had revenue of $31.55 million for the quarter, compared to the consensus estimate of $32.15 million.

OSBC has been the topic of a number of recent research reports. BidaskClub cut Old Second Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 13th. Sandler O’Neill reaffirmed a “buy” rating and set a $18.00 price objective on shares of Old Second Bancorp in a research note on Friday, July 27th. Finally, Zacks Investment Research cut Old Second Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $17.00.

NASDAQ OSBC opened at $14.46 on Wednesday. Old Second Bancorp has a twelve month low of $12.15 and a twelve month high of $16.30. The stock has a market cap of $427.76 million, a price-to-earnings ratio of 12.95, a PEG ratio of 1.76 and a beta of 0.86. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Stockholders of record on Friday, October 26th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, October 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.28%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 4.94%.

Large investors have recently made changes to their positions in the company. HRT Financial LLC bought a new position in shares of Old Second Bancorp during the second quarter valued at about $173,000. Hartford Investment Management Co. bought a new stake in shares of Old Second Bancorp in the second quarter worth about $183,000. Atria Investments LLC bought a new stake in shares of Old Second Bancorp in the third quarter worth about $285,000. Bank of America Corp DE grew its stake in shares of Old Second Bancorp by 208.4% in the second quarter. Bank of America Corp DE now owns 22,739 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 15,365 shares during the last quarter. Finally, First Quadrant L P CA grew its stake in shares of Old Second Bancorp by 480.1% in the third quarter. First Quadrant L P CA now owns 22,327 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 18,478 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank that provides a range of banking services. The company accepts demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers revolving lines of credit for working capital; lending for capital expenditures on manufacturing equipment; lending to small business manufactures, service companies, medical and dental entities, and specialty contractors; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage loans, second mortgage loans, and home equity line of credit mortgages; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans, as well as student loans; and overdraft checking.

Further Reading: Initial Public Offering (IPO)

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Earnings History and Estimates for Old Second Bancorp (NASDAQ:OSBC)

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