Old Second Bancorp (NASDAQ:OSBC) Price Target Raised to $25.00

Old Second Bancorp (NASDAQ:OSBC) had its target price raised by DA Davidson from $24.00 to $25.00 in a research report sent to investors on Friday morning,Benzinga reports. DA Davidson currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on OSBC. Stephens initiated coverage on shares of Old Second Bancorp in a report on Friday, March 27th. They set an “overweight” rating and a $23.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Raymond James Financial began coverage on shares of Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price target on the stock. Finally, Piper Sandler boosted their price target on shares of Old Second Bancorp from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.60.

Old Second Bancorp Price Performance

Old Second Bancorp stock opened at $24.03 on Friday. The firm has a market capitalization of $1.24 billion, a P/E ratio of 13.81 and a beta of 0.70. Old Second Bancorp has a 1 year low of $16.42 and a 1 year high of $24.21. The business has a 50-day moving average of $22.35 and a 200-day moving average of $21.08. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $96.59 million for the quarter, compared to the consensus estimate of $94.88 million. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. On average, equities analysts anticipate that Old Second Bancorp will post 2.17 EPS for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors 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 yield of 1.2%. The ex-dividend date of this dividend is Friday, July 31st. Old Second Bancorp’s dividend payout ratio is presently 16.09%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Harbour Investments Inc. acquired a new position in shares of Old Second Bancorp in the fourth quarter valued at approximately $26,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Old Second Bancorp during the fourth quarter worth $27,000. EverSource Wealth Advisors LLC raised its holdings in shares of Old Second Bancorp by 458.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,215 shares during the period. Parkside Financial Bank & Trust bought a new stake in Old Second Bancorp in the 4th quarter valued at $45,000. Finally, Clearstead Advisors LLC lifted its position in Old Second Bancorp by 793.8% in the 4th 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. Institutional investors own 67.76% of the company’s stock.

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.