Analysts Set Old Second Bancorp, Inc. (NASDAQ:OSBC) PT at $23.50

Old Second Bancorp, Inc. (NASDAQ:OSBC) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $23.50.

Several research analysts have commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Piper Sandler cut their price objective on Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Finally, Stephens assumed coverage on Old Second Bancorp in a research report on Friday, March 27th. They issued an “overweight” rating and a $23.00 price objective on the stock.

Old Second Bancorp Stock Performance

Shares of OSBC opened at $21.89 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.13 billion, a P/E ratio of 13.03 and a beta of 0.71. The stock’s fifty day simple moving average is $21.26 and its 200 day simple moving average is $20.51. Old Second Bancorp has a twelve month low of $16.42 and a twelve month high of $22.67.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.03). The firm had revenue of $93.77 million during the quarter, compared to analysts’ expectations of $94.80 million. Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%. On average, equities research analysts forecast that Old Second Bancorp will post 2.16 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 1.3%. Old Second Bancorp’s dividend payout ratio (DPR) is 16.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OSBC. Harbour Investments Inc. purchased a new position in Old Second Bancorp in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its position in Old Second Bancorp by 458.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,215 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Old Second Bancorp in the fourth quarter valued at about $27,000. Parkside Financial Bank & Trust purchased a new position in Old Second Bancorp in the fourth quarter valued at about $45,000. Finally, Clearstead Advisors LLC grew its stake in shares of Old Second Bancorp by 793.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 2,159 shares in the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

Old Second Bancorp Company Profile

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.