Old Second Bancorp (NASDAQ: OSBC) has been improved by Zacks investment research from a “keep” note to a “buy” note in a research report given to clients and investors on Thursday, Zacks.com reports. The company currently has a price target of $ 14.00 on shares of the financial services provider. Zacks investment researchThe price target for s indicates a potential rise of 10.41% from the current share price.
According to Zacks, “Old Second Bancorp Inc.’s full-service banking business includes the usual commercial and consumer products and services provided by banks. The following services are included: current accounts, savings, term deposit, individual retirement and Keogh deposit accounts; commercial accounts, industrial, consumer and real estate loans, including installment loans, student loans, farm loans, lines of credit and overdraft checks; secure deposit operations; fiduciary services; and a wide range of additional services tailored to the needs of individual clients. “
Separately, Raymond James raised his price target on Old Second Bancorp shares from $ 15.00 to $ 16.00 and gave the company a “strong buy” rating in a research note on Friday. October 22.
Old Second Bancorp stock traded up $ 0.18 at midday on Thursday, reaching $ 12.68. The company had a trade volume of 951 shares, compared to its average volume of 134,191. The company has a fifty-day moving average of $ 13.13 and a 200-day moving average of $ 12.63. Old Second Bancorp has a one-year low at $ 9.68 and a one-year high at $ 14.45. The company has a quick ratio of 0.86, a current ratio of 0.86, and a debt ratio of 0.47. The stock has a market cap of $ 364.04 million, a price-to-earnings ratio of 10.06 and a beta of 1.28.
Old Second Bancorp (NASDAQ: OSBC) last released its quarterly earnings data on Wednesday, October 20. The financial services provider reported earnings per share (EPS) of $ 0.29 for the quarter, beating the consensus estimate of $ 0.27 by $ 0.02. Old Second Bancorp recorded a return on equity of 10.80% and a net margin of 26.98%. The company posted revenue of $ 31.90 million for the quarter, compared to analysts’ estimates of $ 31.70 million. Stock analysts expect Old Second Bancorp to post earnings per share of 1.18 for the current year.
In other news, the director William B. Skoglund sold 4,557 shares in a transaction dated Monday, November 8. The shares were sold for an average price of $ 14.01, for a total value of $ 63,843.57. The sale was disclosed in a file with the Securities & Exchange Commission, which can be accessed via this link. Company insiders own 4.70% of the company’s shares.
Several institutional investors have recently increased or reduced their holdings in the stock. Balyasny Asset Management LLC purchased a new position in Old Second Bancorp shares during the third quarter valued at approximately $ 145,000. Bank of New York Mellon Corp increased its stake in Old Second Bancorp shares by 4.0% during the third quarter. Bank of New York Mellon Corp now owns 139,450 shares of the financial services provider valued at $ 1,821,000 after purchasing an additional 5,422 shares during the period. BNP Paribas Arbitrage SA strengthened its position in Old Second Bancorp by 113.8% during the third quarter. BNP Paribas Arbitrage SA now owns 7,510 shares of the financial services provider valued at $ 98,000 after acquiring an additional 3,997 shares during the last quarter. Stieven Capital Advisors LP increased its holdings of Old Second Bancorp shares by 10.9% in the third quarter. Stieven Capital Advisors LP now owns 768,963 shares of the financial services provider valued at $ 10,043,000 after purchasing an additional 75,501 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in Old Second Bancorp shares by 80.3% in the third quarter. Two Sigma Advisers LP now owns 199,100 shares of the financial services provider valued at $ 2,600,000 after purchasing an additional 88,700 shares during the period. Institutional investors and hedge funds hold 71.25% of the company’s shares.
Old Second Bancorp Company Profile
Old Second Bancorp, Inc is a banking holding company, which provides traditional retail and commercial banking services through its wholly owned subsidiaries. Its services include personal banking, loans, business banking and wealth management. The company was founded in 1981 and is headquartered in Aurora, Illinois.
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