Old Second Bancorp’s (OSBC) Overweight Rating Reaffirmed at Stephens

Stephens restated their overweight rating on shares of Old Second Bancorp (NASDAQ:OSBC) in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a $17.00 price target on the financial services provider’s stock.

Separately, Raymond James upgraded Old Second Bancorp from an outperform rating to a strong-buy rating and set a $17.00 price target on the stock in a report on Thursday, April 4th.

Old Second Bancorp Price Performance

Shares of OSBC stock opened at $14.43 on Friday. The stock’s fifty day moving average is $13.51 and its 200-day moving average is $14.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $646.46 million, a PE ratio of 7.32 and a beta of 1.10. Old Second Bancorp has a 52 week low of $10.79 and a 52 week high of $16.76.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The firm had revenue of $83.83 million during the quarter, compared to the consensus estimate of $69.50 million. Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%. Equities research analysts expect that Old Second Bancorp will post 1.89 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, April 25th. Old Second Bancorp’s dividend payout ratio (DPR) is currently 10.15%.

Hedge Funds Weigh In On Old Second Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of Old Second Bancorp by 0.6% during the second quarter. BlackRock Inc. now owns 3,338,474 shares of the financial services provider’s stock worth $43,600,000 after purchasing an additional 21,443 shares during the period. Vanguard Group Inc. raised its position in shares of Old Second Bancorp by 5.2% during the fourth quarter. Vanguard Group Inc. now owns 2,378,028 shares of the financial services provider’s stock worth $36,717,000 after purchasing an additional 117,431 shares during the period. Banc Funds Co. LLC raised its position in shares of Old Second Bancorp by 3.7% during the fourth quarter. Banc Funds Co. LLC now owns 2,126,262 shares of the financial services provider’s stock worth $32,829,000 after purchasing an additional 74,952 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Old Second Bancorp by 13.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,387,175 shares of the financial services provider’s stock worth $21,419,000 after purchasing an additional 167,355 shares during the period. Finally, State Street Corp raised its position in shares of Old Second Bancorp by 3.6% during the second quarter. State Street Corp now owns 1,124,787 shares of the financial services provider’s stock worth $14,690,000 after purchasing an additional 39,018 shares during the period. Institutional investors 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.