Old Second Bancorp (NASDAQ:OSBC) Upgraded to Moderate Buy at Raymond James Financial

Raymond James Financial upgraded shares of Old Second Bancorp (NASDAQ:OSBC) to a moderate buy rating in a research note released on Tuesday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Stephens assumed coverage on Old Second Bancorp in a report on Friday, March 27th. They issued an “overweight” rating and a $23.00 target price for the company. Piper Sandler boosted their price objective on Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.20.

Old Second Bancorp Stock Performance

Shares of OSBC opened at $22.71 on Tuesday. Old Second Bancorp has a one year low of $16.42 and a one year high of $23.95. The company has a market cap of $1.17 billion, a PE ratio of 13.52 and a beta of 0.70. The stock has a 50-day moving average of $21.74 and a 200-day moving average of $20.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90.

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

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Friday, May 1st were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, May 1st. Old Second Bancorp’s dividend payout ratio is presently 16.67%.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Old Second Bancorp by 181.3% in the 1st quarter. Parallel Advisors LLC now owns 2,622 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 1,690 shares during the period. Janus Henderson Group PLC raised its position in shares of Old Second Bancorp by 67.8% in the first quarter. Janus Henderson Group PLC now owns 26,232 shares of the financial services provider’s stock worth $529,000 after buying an additional 10,597 shares in the last quarter. Amundi bought a new stake in Old Second Bancorp during the first quarter valued at $276,000. Empowered Funds LLC boosted its stake in Old Second Bancorp by 6.1% during the first quarter. Empowered Funds LLC now owns 233,559 shares of the financial services provider’s stock valued at $4,709,000 after buying an additional 13,438 shares during the period. Finally, Quantinno Capital Management LP grew its position in Old Second Bancorp by 58.8% during the first quarter. Quantinno Capital Management LP now owns 49,879 shares of the financial services provider’s stock worth $1,006,000 after buying an additional 18,461 shares in the last quarter. 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.