Old Second Bancorp (NASDAQ:OSBC) Now Covered by Analysts at Stephens

Stephens assumed coverage on shares of Old Second Bancorp (NASDAQ:OSBC) in a research note released on Friday, MarketBeat.com reports. The firm issued an overweight rating and a $23.00 target price on the financial services provider’s stock.

Several other research firms also recently weighed in on OSBC. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. DA Davidson increased their target price on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.38.

Old Second Bancorp Trading Down 0.7%

OSBC opened at $19.57 on Friday. The stock’s fifty day moving average is $20.08 and its two-hundred day moving average is $19.21. The company has a market capitalization of $1.03 billion, a P/E ratio of 12.01 and a beta of 0.79. Old Second Bancorp has a 52 week low of $14.14 and a 52 week high of $22.00. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%.The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $82.49 million. Analysts forecast that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Friday, January 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, January 30th. Old Second Bancorp’s dividend payout ratio (DPR) is 17.18%.

Insiders Place Their Bets

In related news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $20.98, for a total transaction of $41,960.00. Following the sale, the executive vice president owned 24,874 shares of the company’s stock, valued at $521,856.52. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Darin Patrick Campbell sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total value of $732,900.00. Following the sale, the insider directly owned 274,589 shares in the company, valued at approximately $5,749,893.66. The trade was a 11.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,091 shares of company stock worth $776,744 over the last quarter. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Old Second Bancorp

Hedge funds have recently modified their holdings of the company. Boston Partners bought a new stake in shares of Old Second Bancorp in the 4th quarter valued at about $15,994,000. Wellington Management Group LLP raised its stake in shares of Old Second Bancorp by 521.2% during the 4th quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock worth $18,909,000 after acquiring an additional 813,600 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Old Second Bancorp by 74.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after acquiring an additional 630,265 shares during the last quarter. Vanguard Group Inc. lifted its position in Old Second Bancorp by 20.4% during the third quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock valued at $56,522,000 after acquiring an additional 553,169 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in Old Second Bancorp by 93.3% in the second quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider’s stock valued at $17,687,000 after acquiring an additional 481,302 shares in the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.