Stephens Forecasts Strong Price Appreciation for Old Second Bancorp (NASDAQ:OSBC) Stock

Old Second Bancorp (NASDAQ:OSBC) had its target price lifted by Stephens from $21.00 to $22.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Stephens currently has an overweight rating on the financial services provider’s stock.

Separately, Raymond James upgraded Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th.

Old Second Bancorp Price Performance

OSBC opened at $18.14 on Wednesday. Old Second Bancorp has a fifty-two week low of $13.00 and a fifty-two week high of $19.46. The firm has a 50-day moving average of $18.29 and a 200 day moving average of $17.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $813.63 million, a P/E ratio of 9.70 and a beta of 1.07.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. On average, research analysts expect that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 31st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Friday, January 31st. Old Second Bancorp’s dividend payout ratio (DPR) is presently 12.83%.

Insider Buying and Selling at Old Second Bancorp

In other Old Second Bancorp news, Director Rocks Patti Temple acquired 5,625 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the completion of the transaction, the director now owns 18,679 shares of the company’s stock, valued at approximately $332,299.41. This represents a 43.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP boosted its position in shares of Old Second Bancorp by 70.1% during the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 974 shares during the last quarter. R Squared Ltd purchased a new stake in Old Second Bancorp in the fourth quarter valued at approximately $96,000. Quantbot Technologies LP lifted its position in Old Second Bancorp by 134.0% during the third quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 3,587 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Old Second Bancorp in the 3rd quarter worth approximately $101,000. Finally, Aquatic Capital Management LLC increased its holdings in shares of Old Second Bancorp by 47.3% in the 4th quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider’s stock worth $141,000 after buying an additional 2,556 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

Old Second Bancorp Company Profile

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.