Old Second Bancorp (NASDAQ:OSBC) Price Target Raised to $24.00

Old Second Bancorp (NASDAQ:OSBC) had its price objective increased by Keefe, Bruyette & Woods from $22.00 to $24.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

OSBC has been the topic of a number of other research reports. Raymond James upgraded Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Stephens upped their price target on Old Second Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Old Second Bancorp presently has a consensus rating of “Buy” and an average price target of $20.90.

Old Second Bancorp Stock Performance

Shares of OSBC stock opened at $18.34 on Thursday. The company has a market cap of $822.60 million, a price-to-earnings ratio of 9.81 and a beta of 1.07. The stock has a 50 day simple moving average of $18.34 and a 200-day simple moving average of $17.45. Old Second Bancorp has a 12-month low of $13.00 and a 12-month high of $19.46. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. On average, equities analysts forecast that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 31st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, January 31st. Old Second Bancorp’s dividend payout ratio (DPR) is presently 12.83%.

Insider Buying and Selling at Old Second Bancorp

In related news, Director Rocks Patti Temple bought 5,625 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the acquisition, the director now owns 18,679 shares in the company, valued at $332,299.41. This represents a 43.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Old Second Bancorp

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Old Second Bancorp by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 2,637,718 shares of the financial services provider’s stock valued at $46,899,000 after buying an additional 181,783 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Old Second Bancorp by 7.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,019,433 shares of the financial services provider’s stock worth $35,906,000 after purchasing an additional 134,455 shares during the last quarter. State Street Corp boosted its holdings in shares of Old Second Bancorp by 6.5% during the third quarter. State Street Corp now owns 1,264,359 shares of the financial services provider’s stock worth $19,711,000 after purchasing an additional 77,143 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Old Second Bancorp by 16.2% during the third quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider’s stock worth $17,174,000 after purchasing an additional 153,187 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Old Second Bancorp by 10.5% during the fourth quarter. American Century Companies Inc. now owns 1,038,495 shares of the financial services provider’s stock worth $18,464,000 after purchasing an additional 98,617 shares during the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

About Old Second Bancorp

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.