Zacks: Brokerages Anticipate Old Second Bancorp, Inc. (NASDAQ:OSBC) Will Post Quarterly Sales of $39.07 Million

Wall Street brokerages expect Old Second Bancorp, Inc. (NASDAQ:OSBC) to post sales of $39.07 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Old Second Bancorp’s earnings, with the lowest sales estimate coming in at $38.70 million and the highest estimate coming in at $39.50 million. Old Second Bancorp reported sales of $32.66 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 19.6%. The company is expected to announce its next quarterly earnings report on Wednesday, January 26th.

On average, analysts expect that Old Second Bancorp will report full-year sales of $135.73 million for the current financial year, with estimates ranging from $135.30 million to $136.00 million. For the next financial year, analysts anticipate that the company will post sales of $213.87 million, with estimates ranging from $212.80 million to $214.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, October 20th. The financial services provider reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Old Second Bancorp had a net margin of 26.98% and a return on equity of 10.80%. The firm had revenue of $31.90 million for the quarter, compared to the consensus estimate of $31.70 million.

Several research analysts have weighed in on the stock. Raymond James upped their price objective on shares of Old Second Bancorp from $15.00 to $16.00 and gave the stock a “strong-buy” rating in a report on Friday, October 22nd. Zacks Investment Research upgraded shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a report on Wednesday, October 27th.

OSBC traded down $0.05 during trading on Thursday, hitting $13.46. 52,087 shares of the company’s stock were exchanged, compared to its average volume of 111,330. The company has a quick ratio of 0.90, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $13.27 and its two-hundred day moving average is $12.82. Old Second Bancorp has a fifty-two week low of $9.44 and a fifty-two week high of $14.45. The stock has a market cap of $386.41 million, a P/E ratio of 10.68 and a beta of 1.30.

The company also recently announced a quarterly dividend, which was paid on Monday, November 8th. Stockholders of record on Friday, October 29th were issued a $0.05 dividend. The ex-dividend date was Thursday, October 28th. This represents a $0.20 annualized dividend and a dividend yield of 1.49%. Old Second Bancorp’s dividend payout ratio is currently 15.87%.

In related news, Director Hugh H. Mclean purchased 6,835 shares of Old Second Bancorp stock in a transaction that occurred on Friday, September 3rd. The stock was bought at an average price of $11.81 per share, for a total transaction of $80,721.35. Following the completion of the transaction, the director now owns 147,156 shares in the company, valued at $1,737,912.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Hugh H. Mclean purchased 2,962 shares of Old Second Bancorp stock in a transaction that occurred on Wednesday, September 1st. The shares were bought at an average price of $11.72 per share, with a total value of $34,714.64. Following the transaction, the director now owns 147,156 shares of the company’s stock, valued at approximately $1,724,668.32. The disclosure for this purchase can be found here. In the last quarter, insiders bought 10,497 shares of company stock valued at $123,718. 4.70% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. American Century Companies Inc. boosted its position in Old Second Bancorp by 34.2% during the second quarter. American Century Companies Inc. now owns 71,076 shares of the financial services provider’s stock worth $881,000 after purchasing an additional 18,104 shares during the period. Deutsche Bank AG boosted its position in Old Second Bancorp by 10.8% during the second quarter. Deutsche Bank AG now owns 20,233 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 1,966 shares during the period. Jump Financial LLC bought a new position in Old Second Bancorp during the second quarter worth about $144,000. Banc Funds Co. LLC boosted its position in Old Second Bancorp by 6.5% during the second quarter. Banc Funds Co. LLC now owns 1,667,679 shares of the financial services provider’s stock worth $20,679,000 after purchasing an additional 101,685 shares during the period. Finally, Stieven Capital Advisors L.P. boosted its position in Old Second Bancorp by 41.5% during the second quarter. Stieven Capital Advisors L.P. now owns 693,462 shares of the financial services provider’s stock worth $8,599,000 after purchasing an additional 203,391 shares during the period. Hedge funds and other institutional investors own 71.25% of the company’s stock.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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Earnings History and Estimates for Old Second Bancorp (NASDAQ:OSBC)

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