Old Second Bancorp (NASDAQ:OSBC) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Old Second Bancorp (NASDAQ:OSBC) issued its earnings results on Wednesday. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01), Yahoo Finance reports. The company had revenue of $83.83 million for the quarter, compared to analyst estimates of $69.50 million. Old Second Bancorp had a return on equity of 16.78% and a net margin of 26.90%.

Old Second Bancorp Trading Up 2.0 %

NASDAQ:OSBC traded up $0.28 during trading hours on Friday, reaching $14.02. 45,256 shares of the stock were exchanged, compared to its average volume of 174,454. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $13.49 and a two-hundred day moving average of $14.17. Old Second Bancorp has a twelve month low of $10.79 and a twelve month high of $16.76. The company has a market capitalization of $628.10 million, a price-to-earnings ratio of 7.11 and a beta of 1.10.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Thursday, April 25th. Old Second Bancorp’s dividend payout ratio (DPR) is 10.15%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OSBC. JPMorgan Chase & Co. lifted its stake in Old Second Bancorp by 83.8% during the first quarter. JPMorgan Chase & Co. now owns 133,693 shares of the financial services provider’s stock worth $1,940,000 after purchasing an additional 60,965 shares in the last quarter. American Century Companies Inc. increased its position in shares of Old Second Bancorp by 30.3% during the first quarter. American Century Companies Inc. now owns 144,154 shares of the financial services provider’s stock worth $2,092,000 after acquiring an additional 33,500 shares during the period. MetLife Investment Management LLC increased its position in shares of Old Second Bancorp by 54.2% during the first quarter. MetLife Investment Management LLC now owns 15,417 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 5,419 shares during the period. BlackRock Inc. increased its position in shares of Old Second Bancorp by 9.0% during the first quarter. BlackRock Inc. now owns 2,173,725 shares of the financial services provider’s stock worth $31,541,000 after acquiring an additional 179,424 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Old Second Bancorp by 7.1% in the first quarter. Dimensional Fund Advisors LP now owns 952,947 shares of the financial services provider’s stock valued at $13,827,000 after buying an additional 62,934 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OSBC. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Old Second Bancorp in a report on Friday. Raymond James upgraded Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a report on Thursday, April 4th.

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.