Stephens Reaffirms Overweight Rating for Old Second Bancorp (NASDAQ:OSBC)

Stephens reaffirmed their overweight rating on shares of Old Second Bancorp (NASDAQ:OSBC) in a report issued on Friday morning, Benzinga reports. Stephens currently has a $17.00 target price on the financial services provider’s stock.

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

Old Second Bancorp Price Performance

Old Second Bancorp stock opened at $14.43 on Friday. Old Second Bancorp has a one year low of $10.79 and a one year high of $16.76. The business has a fifty day moving average price of $13.51 and a 200-day moving average price of $14.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $646.46 million, a P/E ratio of 7.32 and a beta of 1.10.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $83.83 million for the quarter, compared to the consensus estimate of $69.50 million. Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%. As a group, equities research analysts forecast that Old Second Bancorp will post 1.89 EPS for the current year.

Old Second Bancorp Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.20 dividend on an annualized basis and a yield of 1.39%. Old Second Bancorp’s payout ratio is 10.15%.

Institutional Investors Weigh In On Old Second Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Old Second Bancorp by 5.0% during the fourth quarter. Legal & General Group Plc now owns 13,369 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 640 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Old Second Bancorp by 5.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,825 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 758 shares in the last quarter. Rothschild & Co. Asset Management US Inc. increased its holdings in shares of Old Second Bancorp by 0.8% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 95,151 shares of the financial services provider’s stock worth $1,381,000 after buying an additional 779 shares during the period. Swiss National Bank increased its holdings in shares of Old Second Bancorp by 0.9% in the third quarter. Swiss National Bank now owns 98,100 shares of the financial services provider’s stock worth $1,335,000 after buying an additional 900 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of Old Second Bancorp by 1.9% in the second quarter. Prudential Financial Inc. now owns 58,298 shares of the financial services provider’s stock worth $780,000 after buying an additional 1,110 shares during the period. Hedge funds and other institutional investors 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.