Analysts Expect Old Second Bancorp Inc. (NASDAQ:OSBC) to Announce $0.31 EPS

Wall Street brokerages predict that Old Second Bancorp Inc. (NASDAQ:OSBC) will report earnings of $0.31 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Old Second Bancorp’s earnings, with estimates ranging from $0.30 to $0.32. Old Second Bancorp posted earnings per share of $0.29 in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The company is expected to report its next quarterly earnings results after the market closes on Wednesday, July 24th.

According to Zacks, analysts expect that Old Second Bancorp will report full year earnings of $1.25 per share for the current fiscal year, with EPS estimates ranging from $1.21 to $1.30. For the next financial year, analysts forecast that the firm will report earnings of $1.30 per share, with EPS estimates ranging from $1.27 to $1.33. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). The firm had revenue of $30.52 million for the quarter, compared to analyst estimates of $32.23 million. Old Second Bancorp had a net margin of 23.12% and a return on equity of 15.76%.

Several brokerages recently issued reports on OSBC. BidaskClub lowered Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Zacks Investment Research lowered Farmland Partners from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Raymond James set a $33.00 target price on LKQ and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, FIG Partners reaffirmed an “outperform” rating on shares of Sterling Bancorp in a research report on Monday, April 29th. Three research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Old Second Bancorp presently has a consensus rating of “Hold” and an average target price of $15.67.

In related news, EVP Keith Gottschalk sold 2,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $13.07, for a total transaction of $26,140.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.83% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Old Second Bancorp by 2.0% in the 4th quarter. BlackRock Inc. now owns 2,051,586 shares of the financial services provider’s stock worth $26,671,000 after acquiring an additional 39,292 shares in the last quarter. Kennedy Capital Management Inc. raised its position in shares of Old Second Bancorp by 12.8% in the 1st quarter. Kennedy Capital Management Inc. now owns 509,950 shares of the financial services provider’s stock worth $6,420,000 after acquiring an additional 57,991 shares in the last quarter. Castine Capital Management LLC raised its position in shares of Old Second Bancorp by 1.7% in the 1st quarter. Castine Capital Management LLC now owns 472,108 shares of the financial services provider’s stock worth $5,943,000 after acquiring an additional 7,986 shares in the last quarter. Northern Trust Corp raised its position in shares of Old Second Bancorp by 4.1% in the 4th quarter. Northern Trust Corp now owns 365,595 shares of the financial services provider’s stock worth $4,753,000 after acquiring an additional 14,445 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Old Second Bancorp by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 310,558 shares of the financial services provider’s stock worth $4,036,000 after acquiring an additional 15,933 shares in the last quarter. 68.74% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:OSBC traded down $0.01 during trading hours on Wednesday, hitting $12.51. 1,103 shares of the company were exchanged, compared to its average volume of 52,345. The company has a market cap of $374.30 million, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.43 and a beta of 0.97. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. Old Second Bancorp has a one year low of $11.32 and a one year high of $16.30. The business’s fifty day moving average is $12.53.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 26th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Thursday, July 25th. Old Second Bancorp’s dividend payout ratio is currently 3.57%.

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

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