Brokerages Set Old Second Bancorp, Inc. (NASDAQ:OSBC) PT at $25.40

Old Second Bancorp, Inc. (NASDAQ:OSBC) has been given a consensus recommendation of “Buy” by the seven research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $25.40.

A number of brokerages recently issued reports on OSBC. DA Davidson raised their price objective on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Piper Sandler reaffirmed an “overweight” rating and set a $30.00 price objective (up from $26.00) on shares of Old Second Bancorp in a research report on Monday, July 27th. Zacks Research upgraded shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. Finally, Raymond James Financial assumed coverage on Old Second Bancorp in a research note on Tuesday, July 7th. They set an “outperform” rating and a $26.00 price target on the stock.

Old Second Bancorp Stock Up 0.0%

Shares of NASDAQ OSBC opened at $25.79 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $22.95 and a 200 day moving average of $21.35. The stock has a market cap of $1.33 billion, a PE ratio of 14.82 and a beta of 0.70. Old Second Bancorp has a 12-month low of $16.53 and a 12-month high of $26.04.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Old Second Bancorp had a return on equity of 12.85% and a net margin of 20.22%.The firm had revenue of $96.59 million for the quarter, compared to the consensus estimate of $94.88 million. As a group, sell-side analysts predict that Old Second Bancorp will post 2.2 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Friday, July 31st will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, July 31st. Old Second Bancorp’s payout ratio is currently 16.09%.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds have recently bought and sold shares of the company. UBS Group AG grew its position in Old Second Bancorp by 295.2% in the 4th quarter. UBS Group AG now owns 177,102 shares of the financial services provider’s stock valued at $3,453,000 after acquiring an additional 132,290 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Old Second Bancorp during the first quarter worth about $1,060,000. Principal Financial Group Inc. lifted its position in shares of Old Second Bancorp by 50.8% during the first quarter. Principal Financial Group Inc. now owns 75,090 shares of the financial services provider’s stock worth $1,514,000 after purchasing an additional 25,308 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake 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 purchasing an additional 127,988 shares during the period. Finally, Davis Asset Management L.P. boosted its stake in shares of Old Second Bancorp by 16.4% in 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 purchasing an additional 245,523 shares during the period. Institutional investors and hedge funds own 67.76% of the company’s stock.

About Old Second Bancorp

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.