Old Second Bancorp (NASDAQ:OSBC) Upgraded to “Strong-Buy” at Raymond James

Old Second Bancorp (NASDAQ:OSBC) was upgraded by stock analysts at Raymond James from a “moderate buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also recently commented on OSBC. Piper Sandler raised their target price on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. DA Davidson set a $18.00 price objective on shares of Old Second Bancorp in a research note on Thursday, October 17th.

Old Second Bancorp Trading Up 2.2 %

Shares of NASDAQ:OSBC opened at $17.66 on Thursday. Old Second Bancorp has a twelve month low of $13.00 and a twelve month high of $19.37. The firm has a market cap of $792.10 million, a P/E ratio of 9.55 and a beta of 1.08. The company has a 50 day moving average of $17.76 and a 200-day moving average of $16.33. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $71.16 million for the quarter, compared to analysts’ expectations of $70.95 million. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. As a group, analysts anticipate that Old Second Bancorp will post 1.95 earnings per share for the current fiscal year.

Institutional Trading of Old Second Bancorp

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Old Second Bancorp during the 2nd quarter worth $260,000. Bank of New York Mellon Corp increased its position in Old Second Bancorp by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 230,080 shares of the financial services provider’s stock worth $3,407,000 after buying an additional 13,928 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Old Second Bancorp by 378.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 30,998 shares of the financial services provider’s stock valued at $459,000 after buying an additional 24,515 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Old Second Bancorp in the second quarter worth about $49,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Old Second Bancorp by 9.3% during the 2nd quarter. Principal Financial Group Inc. now owns 28,930 shares of the financial services provider’s stock worth $428,000 after acquiring an additional 2,462 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

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.