Old Second Bancorp, Inc. (NASDAQ:OSBC) Receives $23.50 Consensus Price Target from Analysts

Shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) have received a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $23.50.

A number of equities research analysts have issued reports on OSBC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Piper Sandler reduced their price objective on shares of Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Finally, Stephens began coverage on Old Second Bancorp in a research report on Friday, March 27th. They issued an “overweight” rating and a $23.00 price objective on the stock.

Old Second Bancorp Trading Down 1.8%

Shares of OSBC stock opened at $21.66 on Friday. Old Second Bancorp has a 52-week low of $16.42 and a 52-week high of $22.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50-day simple moving average of $21.23 and a two-hundred day simple moving average of $20.48. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 12.89 and a beta of 0.71.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%.The firm had revenue of $93.77 million during the quarter, compared to the consensus estimate of $94.80 million. Research analysts anticipate that Old Second Bancorp will post 2.16 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 1.3%. Old Second Bancorp’s payout ratio is currently 16.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OSBC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Old Second Bancorp by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 1,067 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock valued at $24,599,000 after acquiring an additional 630,265 shares during the last quarter. Empowered Funds LLC boosted its stake in Old Second Bancorp by 38.7% in the first quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider’s stock valued at $2,794,000 after acquiring an additional 46,890 shares during the last quarter. Jane Street Group LLC purchased a new position in Old Second Bancorp in the first quarter valued at about $1,378,000. Finally, Strs Ohio purchased a new position in Old Second Bancorp in the first quarter valued at about $88,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.