Old Second Bancorp (NASDAQ:OSBC) Releases Earnings Results, Misses Estimates By $0.01 EPS

Old Second Bancorp (NASDAQ:OSBC) released its quarterly earnings data on Thursday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01), Yahoo Finance reports. Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%. The business had revenue of $83.83 million during the quarter, compared to analyst estimates of $69.50 million.

Old Second Bancorp Stock Performance

Shares of NASDAQ:OSBC traded up $0.28 during midday trading on Friday, hitting $14.02. The company’s stock had a trading volume of 17,089 shares, compared to its average volume of 174,133. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50 day simple moving average is $13.49 and its 200 day simple moving average is $14.17. The stock has a market capitalization of $628.10 million, a price-to-earnings ratio of 6.97 and a beta of 1.10. Old Second Bancorp has a fifty-two week low of $10.79 and a fifty-two week high of $16.76.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 26th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Thursday, April 25th. Old Second Bancorp’s dividend payout ratio is 10.15%.

Wall Street Analyst Weigh In

Separately, Raymond James upgraded Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research note on Thursday, April 4th.

Hedge Funds Weigh In On Old Second Bancorp

Several large investors have recently made changes to their positions in OSBC. Vanguard Group Inc. lifted its holdings in shares of Old Second Bancorp by 42.3% during the first quarter. Vanguard Group Inc. now owns 1,925,199 shares of the financial services provider’s stock worth $27,934,000 after buying an additional 572,257 shares during the last quarter. EJF Capital LLC raised its stake in Old Second Bancorp by 140.4% during the 1st quarter. EJF Capital LLC now owns 849,682 shares of the financial services provider’s stock valued at $12,329,000 after purchasing an additional 496,218 shares during the last quarter. State Street Corp boosted its holdings in Old Second Bancorp by 72.3% in the 2nd quarter. State Street Corp now owns 1,001,589 shares of the financial services provider’s stock valued at $13,401,000 after purchasing an additional 420,215 shares during the period. JPMorgan Chase & Co. boosted its holdings in Old Second Bancorp by 201.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 403,226 shares of the financial services provider’s stock valued at $5,395,000 after purchasing an additional 269,533 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Old Second Bancorp by 81.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 454,054 shares of the financial services provider’s stock worth $5,930,000 after purchasing an additional 203,495 shares during 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.