Old Second Bancorp, Inc. (OSBC) Downgraded by ValuEngine

ValuEngine lowered shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other brokerages have also recently issued reports on OSBC. Keefe, Bruyette & Woods reiterated a hold rating and set a $11.00 target price on shares of Old Second Bancorp in a report on Friday, July 14th. DA Davidson started coverage on Old Second Bancorp in a report on Friday, September 1st. They set a neutral rating and a $13.00 target price for the company. BidaskClub cut Old Second Bancorp from a buy rating to a hold rating in a report on Friday, August 11th. Finally, Zacks Investment Research cut Old Second Bancorp from a buy rating to a hold rating in a report on Friday, September 8th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $12.17.

Old Second Bancorp (NASDAQ OSBC) opened at 14.30 on Friday. Old Second Bancorp has a 1-year low of $7.65 and a 1-year high of $14.90. The stock has a 50 day moving average of $12.72 and a 200 day moving average of $11.93. The stock has a market cap of $423.67 million, a price-to-earnings ratio of 23.06 and a beta of 1.37.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. Old Second Bancorp had a return on equity of 10.30% and a net margin of 16.82%. Equities analysts expect that Old Second Bancorp will post $0.81 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Friday, October 27th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Thursday, October 26th. Old Second Bancorp’s dividend payout ratio is presently 6.45%.

In other Old Second Bancorp news, Director John Ladowicz sold 8,450 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $12.11, for a total value of $102,329.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward Bonifas purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was bought at an average price of $11.58 per share, with a total value of $34,740.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 5,550 shares of company stock valued at $62,594 and sold 50,350 shares valued at $609,088. 3.60% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its holdings in Old Second Bancorp by 440.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,282 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 10,008 shares during the period. Menta Capital LLC purchased a new position in Old Second Bancorp in the 1st quarter worth approximately $141,000. Virtu KCG Holdings LLC purchased a new position in Old Second Bancorp in the 2nd quarter worth approximately $161,000. Prudential Financial Inc. boosted its holdings in Old Second Bancorp by 7.4% in the 1st quarter. Prudential Financial Inc. now owns 16,040 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 1,100 shares during the period. Finally, American International Group Inc. boosted its holdings in Old Second Bancorp by 7.1% in the 1st quarter. American International Group Inc. now owns 17,704 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 1,175 shares during the period. Hedge funds and other institutional investors own 65.60% of the company’s stock.

About Old Second Bancorp

To view ValuEngine’s full report, visit ValuEngine’s official website.

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