Zacks: Brokerages Expect Old Second Bancorp Inc. (NASDAQ:OSBC) Will Announce Earnings of $0.30 Per Share

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Wall Street analysts forecast that Old Second Bancorp Inc. (NASDAQ:OSBC) will report earnings per share of $0.30 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Old Second Bancorp’s earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.29. Old Second Bancorp reported earnings per share of $0.28 in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.1%. The business is scheduled to report its next earnings report on Thursday, March 5th.

On average, analysts expect that Old Second Bancorp will report full-year earnings of $1.29 per share for the current fiscal year, with EPS estimates ranging from $1.28 to $1.31. For the next fiscal year, analysts expect that the company will report earnings of $1.18 per share, with EPS estimates ranging from $1.12 to $1.22. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. The business had revenue of $36.71 million during the quarter, compared to the consensus estimate of $33.15 million. Old Second Bancorp had a return on equity of 15.42% and a net margin of 25.69%.

A number of research firms have recently commented on OSBC. Zacks Investment Research upgraded Old Second Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Thursday. BidaskClub cut Old Second Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. DA Davidson reiterated a “neutral” rating on shares of Old Second Bancorp in a report on Monday, November 18th. Raymond James set a $14.00 price target on shares of Old Second Bancorp and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, ValuEngine raised Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $14.00.

Shares of OSBC stock traded up $0.07 during trading hours on Friday, hitting $12.48. The company’s stock had a trading volume of 58,517 shares, compared to its average volume of 61,010. The company has a 50 day moving average of $12.39 and a 200 day moving average of $12.38. The stock has a market cap of $371.10 million, a PE ratio of 9.77 and a beta of 1.03. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.41. Old Second Bancorp has a 12-month low of $11.24 and a 12-month high of $14.80.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Old Second Bancorp by 8.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,993 shares of the financial services provider’s stock valued at $255,000 after buying an additional 1,600 shares during the last quarter. Zebra Capital Management LLC increased its holdings in shares of Old Second Bancorp by 17.5% during the 2nd quarter. Zebra Capital Management LLC now owns 12,411 shares of the financial services provider’s stock worth $158,000 after buying an additional 1,852 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Old Second Bancorp by 2.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 71,349 shares of the financial services provider’s stock valued at $912,000 after buying an additional 1,968 shares during the period. Bank of Montreal Can raised its stake in shares of Old Second Bancorp by 299.8% in the 2nd quarter. Bank of Montreal Can now owns 3,198 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 2,398 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Old Second Bancorp by 12.8% in the second quarter. Jacobs Levy Equity Management Inc. now owns 31,615 shares of the financial services provider’s stock worth $404,000 after buying an additional 3,590 shares during the period. 70.52% of the stock is currently owned by institutional investors.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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Earnings History and Estimates for Old Second Bancorp (NASDAQ:OSBC)

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