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

Old Second Bancorp (NASDAQ:OSBC) announced its earnings results on Thursday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $83.83 million during the quarter, compared to analyst estimates of $69.50 million.

Old Second Bancorp Stock Up 2.0 %

Shares of Old Second Bancorp stock traded up $0.28 on Friday, reaching $14.02. 17,089 shares of the company were exchanged, compared to its average volume of 174,133. Old Second Bancorp has a one year low of $10.79 and a one year high of $16.76. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $13.49 and a 200 day moving average of $14.17. The company 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price objective on the stock in a report on Thursday, April 4th.

Institutional Trading of Old Second Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in OSBC. JPMorgan Chase & Co. grew its position in shares of Old Second Bancorp by 83.8% in the 1st quarter. JPMorgan Chase & Co. now owns 133,693 shares of the financial services provider’s stock valued at $1,940,000 after acquiring an additional 60,965 shares during the period. American Century Companies Inc. raised its stake in Old Second Bancorp by 30.3% in the first quarter. American Century Companies Inc. now owns 144,154 shares of the financial services provider’s stock valued at $2,092,000 after buying an additional 33,500 shares during the period. MetLife Investment Management LLC lifted its position in shares of Old Second Bancorp by 54.2% in the first quarter. MetLife Investment Management LLC now owns 15,417 shares of the financial services provider’s stock valued at $224,000 after buying an additional 5,419 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Old Second Bancorp by 9.0% during the 1st quarter. BlackRock Inc. now owns 2,173,725 shares of the financial services provider’s stock worth $31,541,000 after acquiring an additional 179,424 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Old Second Bancorp by 7.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 952,947 shares of the financial services provider’s stock valued at $13,827,000 after acquiring an additional 62,934 shares during the period. 67.76% of the stock is owned by institutional investors.

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.