$33.00 Million in Sales Expected for Old Second Bancorp Inc. (NASDAQ:OSBC) This Quarter

Brokerages expect Old Second Bancorp Inc. (NASDAQ:OSBC) to announce sales of $33.00 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Old Second Bancorp’s earnings. Old Second Bancorp reported sales of $30.84 million during the same quarter last year, which indicates a positive year over year growth rate of 7%. The business is scheduled to issue its next quarterly earnings results on Thursday, March 5th.

On average, analysts expect that Old Second Bancorp will report full year sales of $133.15 million for the current fiscal year, with estimates ranging from $131.30 million to $135.00 million. For the next financial year, analysts expect that the business will report sales of $132.45 million, with estimates ranging from $130.90 million to $134.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.09. The company had revenue of $36.71 million during the quarter, compared to analyst estimates of $33.15 million. Old Second Bancorp had a net margin of 25.69% and a return on equity of 15.42%.

A number of brokerages have issued reports on OSBC. BidaskClub cut shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Raymond James set a $14.00 target price on Old Second Bancorp and gave the company a “buy” rating in a research note on Thursday, August 29th. ValuEngine upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Thursday. Finally, DA Davidson reissued a “neutral” rating on shares of Old Second Bancorp in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in Old Second Bancorp by 319.7% in the 3rd quarter. Millennium Management LLC now owns 42,918 shares of the financial services provider’s stock valued at $524,000 after buying an additional 32,692 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Old Second Bancorp by 23.3% during the 3rd quarter. Squarepoint Ops LLC now owns 31,042 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 5,872 shares in the last quarter. Zebra Capital Management LLC raised its holdings in shares of Old Second Bancorp by 51.6% in the third quarter. Zebra Capital Management LLC now owns 18,815 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 6,404 shares during the last quarter. State Street Corp raised its holdings in shares of Old Second Bancorp by 1.9% in the third quarter. State Street Corp now owns 550,258 shares of the financial services provider’s stock valued at $6,724,000 after purchasing an additional 10,410 shares during the last quarter. Finally, Patriot Financial Partners GP LP bought a new stake in shares of Old Second Bancorp in the third quarter worth $134,000. 70.52% of the stock is currently owned by hedge funds and other institutional investors.

OSBC stock traded up $0.07 during trading on Tuesday, hitting $12.48. The company had a trading volume of 58,517 shares, compared to its average volume of 61,010. The firm has a 50-day moving average price of $12.39 and a 200-day moving average price of $12.38. Old Second Bancorp has a 12 month low of $11.24 and a 12 month high of $14.80. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.41. The stock has a market cap of $371.10 million, a price-to-earnings ratio of 9.77 and a beta of 1.03.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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Earnings History and Estimates for Old Second Bancorp (NASDAQ:OSBC)

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