Old Second Bancorp (NASDAQ:OSBC) Issues Earnings Results

Old Second Bancorp (NASDAQ:OSBC) announced its earnings results on Wednesday. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55, FiscalAI reports. Old Second Bancorp had a return on equity of 12.67% and a net margin of 20.07%.The firm had revenue of $96.59 million during the quarter, compared to analysts’ expectations of $94.88 million.

Old Second Bancorp Stock Performance

Old Second Bancorp stock traded down $0.27 during mid-day trading on Wednesday, reaching $23.41. The company had a trading volume of 502,508 shares, compared to its average volume of 391,358. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. Old Second Bancorp has a 52 week low of $16.42 and a 52 week high of $23.99. The company has a 50 day moving average of $22.17 and a 200-day moving average of $21.00. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 13.93 and a beta of 0.70.

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Friday, July 31st will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, July 31st. Old Second Bancorp’s dividend payout ratio is presently 16.67%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Old Second Bancorp from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Stephens initiated coverage on shares of Old Second Bancorp in a research note on Friday, March 27th. They issued an “overweight” rating and a $23.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a report on Friday, May 29th. Finally, Raymond James Financial assumed coverage on shares of Old Second Bancorp in a research report on Tuesday, July 7th. They set an “outperform” rating and a $26.00 target price 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 has a consensus rating of “Moderate Buy” and an average target price of $24.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OSBC. Los Angeles Capital Management LLC boosted its stake in Old Second Bancorp by 1.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock worth $519,000 after buying an additional 493 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Old Second Bancorp by 32.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 622 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Old Second Bancorp by 0.8% during the 4th quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock worth $2,186,000 after acquiring an additional 908 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Old Second Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 1,067 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Old Second Bancorp by 458.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,215 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

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.