Old Second Bancorp (NASDAQ:OSBC) Upgraded at Raymond James

Old Second Bancorp (NASDAQ:OSBC) was upgraded by equities research analysts at Raymond James from a “moderate buy” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also weighed in on OSBC. DA Davidson set a $18.00 target price on shares of Old Second Bancorp in a research report on Thursday, October 17th. Piper Sandler increased their price objective on Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th.

Old Second Bancorp Price Performance

NASDAQ OSBC opened at $17.66 on Thursday. The stock has a 50-day simple moving average of $17.76 and a 200 day simple moving average of $16.33. Old Second Bancorp has a twelve month low of $13.00 and a twelve month high of $19.37. The stock has a market capitalization of $792.10 million, a PE ratio of 9.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. The business had revenue of $71.16 million during the quarter, compared to analysts’ expectations of $70.95 million. Research analysts anticipate that Old Second Bancorp will post 1.95 EPS for the current year.

Hedge Funds Weigh In On Old Second Bancorp

A number of large investors have recently modified their holdings of OSBC. Princeton Capital Management LLC increased its position in Old Second Bancorp by 7.8% in the third quarter. Princeton Capital Management LLC now owns 13,770 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 1,000 shares during the period. Lakewood Asset Management LLC grew its position in shares of Old Second Bancorp by 8.8% during the 3rd quarter. Lakewood Asset Management LLC now owns 19,951 shares of the financial services provider’s stock worth $311,000 after buying an additional 1,612 shares during the period. Hunter Perkins Capital Management LLC grew its position in shares of Old Second Bancorp by 3.7% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 52,955 shares of the financial services provider’s stock worth $826,000 after buying an additional 1,870 shares during the period. Rhumbline Advisers raised its stake in shares of Old Second Bancorp by 2.7% during the second quarter. Rhumbline Advisers now owns 73,155 shares of the financial services provider’s stock worth $1,083,000 after buying an additional 1,923 shares during the last quarter. Finally, CWM LLC lifted its holdings in Old Second Bancorp by 36.3% in the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock valued at $124,000 after buying an additional 2,123 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

About Old Second Bancorp

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.