Old Second Bancorp (NASDAQ:OSBC) Announces Earnings Results, Beats Expectations By $0.05 EPS

Old Second Bancorp (NASDAQ:OSBC) announced its earnings results on Wednesday. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05, Zacks reports. The company had revenue of $95.21 million for the quarter, compared to analyst estimates of $82.49 million. Old Second Bancorp had a net margin of 20.00% and a return on equity of 13.36%.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC opened at $19.90 on Monday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 12.21 and a beta of 0.82. Old Second Bancorp has a fifty-two week low of $14.14 and a fifty-two week high of $22.00. The business has a 50-day moving average of $19.79 and a 200-day moving average of $18.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89.

Old Second Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Friday, January 30th will be paid a $0.07 dividend. The ex-dividend date is Friday, January 30th. This represents a $0.28 annualized dividend and a yield of 1.4%. Old Second Bancorp’s payout ratio is presently 17.18%.

Insider Activity at Old Second Bancorp

In other news, insider Darin Patrick Campbell sold 31,159 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $17.89, for a total value of $557,434.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Old Second Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Old Second Bancorp by 74.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock worth $24,599,000 after acquiring an additional 630,265 shares during the period. Vanguard Group Inc. lifted its stake 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 worth $56,522,000 after purchasing an additional 553,169 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Old Second Bancorp by 78.6% in the 3rd quarter. Bank of America Corp DE now owns 354,401 shares of the financial services provider’s stock valued at $6,126,000 after purchasing an additional 155,952 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Old Second Bancorp during the 3rd quarter worth $2,165,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Old Second Bancorp by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,204,884 shares of the financial services provider’s stock worth $38,111,000 after buying an additional 86,416 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OSBC has been the topic of several analyst reports. Wall Street Zen raised Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. DA Davidson boosted their target price on Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.63.

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.