Old Second Bancorp (OSBC) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Old Second Bancorp (NASDAQ:OSBC) from a buy rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Old Second Bancorp Inc.’s full service banking businesses include the customary consumer and commercial products and services which banks provide. The following services are included: demand, savings, time deposit, individual retirement and Keogh deposit accounts; commercial, industrial, consumer and real estate lending, including installment loans, student loans, farm loans, lines of credit and overdraft checking; safe deposit operations; trust services; and an extensive variety of additional services tailored to the needs of individual customers. “

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OSBC has been the topic of a number of other reports. BidaskClub upgraded Old Second Bancorp from a hold rating to a buy rating in a research note on Thursday, March 15th. ValuEngine cut Old Second Bancorp from a buy rating to a hold rating in a research note on Friday, January 5th. Keefe, Bruyette & Woods upgraded Old Second Bancorp from a market perform rating to an outperform rating in a research note on Wednesday, January 3rd. Finally, Sandler O’Neill upgraded Old Second Bancorp from a hold rating to a buy rating in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $13.17.

OSBC stock opened at $13.90 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $412.73, a price-to-earnings ratio of 18.05, a P/E/G ratio of 1.90 and a beta of 0.77. Old Second Bancorp has a 1 year low of $10.35 and a 1 year high of $15.00.

In other Old Second Bancorp news, Chairman William B. Skoglund sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $14.50, for a total value of $36,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 15,306 shares of company stock worth $222,044 over the last quarter. 3.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Banc Funds Co. LLC raised its stake in shares of Old Second Bancorp by 3.0% during the fourth quarter. Banc Funds Co. LLC now owns 2,517,384 shares of the financial services provider’s stock valued at $34,362,000 after purchasing an additional 73,000 shares in the last quarter. BlackRock Inc. raised its stake in shares of Old Second Bancorp by 1.5% during the fourth quarter. BlackRock Inc. now owns 1,940,774 shares of the financial services provider’s stock valued at $26,492,000 after purchasing an additional 28,031 shares in the last quarter. Thomson Horstmann & Bryant Inc. raised its stake in shares of Old Second Bancorp by 2.2% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 1,401,108 shares of the financial services provider’s stock valued at $19,125,000 after purchasing an additional 30,511 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Old Second Bancorp by 7.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,018,700 shares of the financial services provider’s stock valued at $13,905,000 after purchasing an additional 69,300 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Old Second Bancorp by 18.5% during the second quarter. State Street Corp now owns 507,780 shares of the financial services provider’s stock valued at $5,864,000 after purchasing an additional 79,413 shares in the last quarter. Institutional investors and hedge funds own 69.04% of the company’s stock.

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About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company. The Company conducts a full service community banking and trust business through its subsidiaries, including Old Second National Bank (the Bank), Old Second Capital Trust I, Old Second Capital Trust II and Old Second Affordable Housing Fund, LLC The Bank’s full service banking businesses include the customary consumer and commercial products and services that banking institutions provide, including demand, negotiable order of withdrawal, money market and individual retirement accounts; commercial, industrial, consumer and real estate lending, including installment loans, agricultural loans, lines of credit and overdraft checking; safe deposit operations, and a range of additional services tailored to the needs of individual customers, such as the acquisition of the United States Treasury notes and bonds, money orders, cashiers’ checks and foreign currency, direct deposit, debit cards, credit cards and other special services.

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