Old Second Bancorp (NASDAQ:OSBC) Posts Earnings Results, Meets Estimates

Old Second Bancorp (NASDAQ:OSBC) released its earnings results on Wednesday. The financial services provider reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55, FiscalAI reports. Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.67%. The firm had revenue of $96.59 million for the quarter, compared to analyst estimates of $94.88 million.

Old Second Bancorp Trading Down 1.1%

Shares of Old Second Bancorp stock opened at $23.41 on Thursday. The business has a 50 day moving average price of $22.22 and a 200 day moving average price of $21.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $1.20 billion, a P/E ratio of 13.93 and a beta of 0.70. Old Second Bancorp has a 1 year low of $16.42 and a 1 year high of $23.99.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, July 31st. Old Second Bancorp’s dividend payout ratio (DPR) is 16.67%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OSBC. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Piper Sandler lifted their price target on Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Raymond James Financial started coverage on Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Stephens started coverage on Old Second Bancorp in a report on Friday, March 27th. They issued an “overweight” rating and a $23.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Institutional Trading of Old Second Bancorp

Several institutional investors have recently made changes to their positions in OSBC. Vanguard Group Inc. boosted its holdings in Old Second Bancorp by 20.4% in 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. Dimensional Fund Advisors LP lifted its position in Old Second Bancorp by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,260,874 shares of the financial services provider’s stock valued at $44,087,000 after buying an additional 55,990 shares in the last quarter. FJ Capital Management LLC grew its stake in Old Second Bancorp by 4.5% during the third quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock worth $33,186,000 after buying an additional 82,601 shares during the period. State Street Corp raised its stake in shares of Old Second Bancorp by 12.6% in the 4th quarter. State Street Corp now owns 1,539,419 shares of the financial services provider’s stock valued at $30,019,000 after acquiring an additional 171,941 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Old Second Bancorp by 74.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after purchasing an additional 630,265 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.