DA Davidson Boosts Old Second Bancorp (NASDAQ:OSBC) Price Target to $25.00

Old Second Bancorp (NASDAQ:OSBC) had its target price raised by stock analysts at DA Davidson from $24.00 to $25.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price target would suggest a potential upside of 4.04% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Piper Sandler boosted their target price on shares of Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Stephens began coverage on Old Second Bancorp in a research note on Friday, March 27th. They set an “overweight” rating and a $23.00 price target for the company. Finally, Raymond James Financial initiated coverage on Old Second Bancorp in a report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price objective for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Old Second Bancorp currently has an average rating of “Moderate Buy” and an average target price of $24.60.

Old Second Bancorp Stock Performance

NASDAQ OSBC opened at $24.03 on Friday. The company has a market cap of $1.24 billion, a P/E ratio of 13.81 and a beta of 0.70. The company has a fifty day simple moving average of $22.35 and a 200 day simple moving average of $21.08. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. Old Second Bancorp has a 12-month low of $16.42 and a 12-month high of $24.21.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. The firm had revenue of $96.59 million for the quarter, compared to the consensus estimate of $94.88 million. Sell-side analysts predict that Old Second Bancorp will post 2.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OSBC. Vanguard Group Inc. increased its stake in Old Second Bancorp by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider’s stock valued at $63,929,000 after buying an additional 8,395 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Old Second Bancorp by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,388,862 shares of the financial services provider’s stock valued at $48,159,000 after acquiring an additional 127,988 shares in the last quarter. FJ Capital Management LLC grew its holdings in shares of Old Second Bancorp by 4.5% in the third quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock valued at $33,186,000 after acquiring an additional 82,601 shares in the last quarter. Davis Asset Management L.P. increased its position in shares of Old Second Bancorp by 16.4% during the fourth quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider’s stock valued at $34,038,000 after acquiring an additional 245,523 shares during the last quarter. Finally, State Street Corp increased its position in shares of Old Second Bancorp by 12.6% during the fourth quarter. State Street Corp now owns 1,539,419 shares of the financial services provider’s stock valued at $30,019,000 after acquiring an additional 171,941 shares during the last quarter. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Company Profile

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.