Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Old Second Bancorp (NASDAQ:OSBC) Stock

Old Second Bancorp (NASDAQ:OSBC) had its price target hoisted by stock analysts at Keefe, Bruyette & Woods from $22.00 to $24.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 32.30% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Raymond James upgraded shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Stephens increased their price objective on shares of Old Second Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $20.90.

Old Second Bancorp Stock Performance

OSBC opened at $18.14 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. 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 market capitalization of $813.63 million, a PE ratio of 9.70 and a beta of 1.07. The company’s 50-day moving average is $18.31 and its 200 day moving average is $17.42.

Old Second Bancorp (NASDAQ:OSBC) last posted 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 return on equity of 13.73% and a net margin of 24.95%. As a group, research analysts predict that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Rocks Patti Temple bought 5,625 shares of Old Second Bancorp stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $17.79 per share, with a total value of $100,068.75. Following the transaction, the director now directly owns 18,679 shares of the company’s stock, valued at approximately $332,299.41. The trade was a 43.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP boosted its holdings in Old Second Bancorp by 70.1% in the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider’s stock worth $42,000 after buying an additional 974 shares during the period. R Squared Ltd bought a new position in Old Second Bancorp in the 4th quarter worth approximately $96,000. Quantbot Technologies LP boosted its holdings in Old Second Bancorp by 134.0% in the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after buying an additional 3,587 shares during the period. Point72 DIFC Ltd bought a new position in Old Second Bancorp in the 3rd quarter worth approximately $101,000. Finally, Aquatic Capital Management LLC boosted its holdings in 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 period. 67.76% of the stock is 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.