Old Second Bancorp (NASDAQ:OSBC) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Old Second Bancorp (NASDAQ:OSBC) from a sell rating to a hold rating in a research report report published on Thursday, BidAskClub reports.

OSBC has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Old Second Bancorp from a buy rating to a hold rating in a research note on Saturday, September 26th. Piper Sandler dropped their price objective on shares of Old Second Bancorp from $11.00 to $10.00 and set an overweight rating for the company in a research report on Tuesday, September 29th. Finally, Raymond James upgraded Old Second Bancorp from an outperform rating to a strong-buy rating and set a $10.00 price objective on the stock in a research report on Wednesday, September 23rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Old Second Bancorp presently has an average rating of Hold and a consensus price target of $11.25.

OSBC stock opened at $9.36 on Thursday. The business has a fifty day moving average price of $8.25 and a 200 day moving average price of $7.84. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.91 and a quick ratio of 0.91. Old Second Bancorp has a fifty-two week low of $5.96 and a fifty-two week high of $13.77. The stock has a market capitalization of $276.96 million, a price-to-earnings ratio of 9.09 and a beta of 1.48.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.23 by $0.11. Old Second Bancorp had a return on equity of 14.06% and a net margin of 21.03%. On average, equities analysts expect that Old Second Bancorp will post 1 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 30th will be paid a $0.01 dividend. The ex-dividend date is Thursday, October 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.43%. Old Second Bancorp’s payout ratio is 3.08%.

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in Old Second Bancorp by 197.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,765 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 4,490 shares in the last quarter. Bowling Portfolio Management LLC bought a new stake in shares of Old Second Bancorp during the third quarter worth $215,000. Wedge Capital Management L L P NC raised its holdings in shares of Old Second Bancorp by 26.5% during the third quarter. Wedge Capital Management L L P NC now owns 428,255 shares of the financial services provider’s stock worth $3,210,000 after acquiring an additional 89,627 shares during the period. Two Sigma Advisers LP lifted its position in Old Second Bancorp by 2.5% in the 2nd quarter. Two Sigma Advisers LP now owns 73,000 shares of the financial services provider’s stock valued at $568,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Old Second Bancorp in the 2nd quarter worth $98,000. Institutional investors and hedge funds own 71.82% 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 a range of banking services. The company provides demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers 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.

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