Old Second Bancorp (NASDAQ:OSBC) PT Raised to $23.00

Old Second Bancorp (NASDAQ:OSBC) had its price objective boosted by equities researchers at Piper Sandler from $22.50 to $23.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 33.88% from the company’s previous close.

A number of other research analysts have also recently commented on OSBC. DA Davidson cut shares of Old Second Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $17.00 in a report on Wednesday, September 25th. Raymond James downgraded shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th.

Old Second Bancorp Price Performance

NASDAQ OSBC traded up $0.14 on Friday, hitting $17.18. 101,072 shares of the company’s stock were exchanged, compared to its average volume of 224,710. The stock has a 50-day moving average of $16.04 and a 200-day moving average of $15.11. The stock has a market cap of $770.45 million, a price-to-earnings ratio of 8.72 and a beta of 1.06. Old Second Bancorp has a 52 week low of $13.00 and a 52 week high of $17.46. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $70.82 million for the quarter, compared to the consensus estimate of $70.03 million. Old Second Bancorp had a return on equity of 14.83% and a net margin of 25.62%. Analysts expect that Old Second Bancorp will post 1.89 earnings per share for the current year.

Insider Transactions at Old Second Bancorp

In related news, Director John Ladowicz sold 30,585 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $16.22, for a total value of $496,088.70. Following the completion of the transaction, the director now owns 189,192 shares in the company, valued at $3,068,694.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Old Second Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Old Second Bancorp by 1.9% during the first quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock worth $33,548,000 after purchasing an additional 45,955 shares during the period. Boston Partners lifted its holdings in Old Second Bancorp by 300.6% during the 1st quarter. Boston Partners now owns 55,735 shares of the financial services provider’s stock worth $771,000 after buying an additional 41,821 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of Old Second Bancorp in the 2nd quarter valued at about $759,000. SG Americas Securities LLC acquired a new stake in shares of Old Second Bancorp in the second quarter valued at about $260,000. Finally, AQR Capital Management LLC raised its position in shares of Old Second Bancorp by 20.1% during the second quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider’s stock worth $4,561,000 after acquiring an additional 51,652 shares during the last quarter. 67.76% of the stock is owned by institutional investors.

Old Second Bancorp Company Profile

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.