Old Second Bancorp (NASDAQ:OSBC) Given Overweight Rating at Stephens

Stephens reissued their overweight rating on shares of Old Second Bancorp (NASDAQ:OSBC) in a report published on Thursday,Benzinga reports. They currently have a $21.00 price objective on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler raised their price target on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a report on Friday, October 18th. DA Davidson set a $18.00 target price on Old Second Bancorp in a research note on Thursday, October 17th. Finally, 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 Stock Down 2.4 %

OSBC stock opened at $18.23 on Thursday. The business’s 50-day moving average price is $18.20 and its 200-day moving average price is $16.94. The stock has a market cap of $817.67 million, a P/E ratio of 9.85 and a beta of 1.08. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp has a twelve month low of $13.00 and a twelve month high of $19.37.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. On average, equities research analysts forecast that Old Second Bancorp will post 1.95 EPS for the current year.

Old Second Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 31st will be paid 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 is Friday, January 31st. Old Second Bancorp’s payout ratio is presently 12.83%.

Insider Buying and Selling at Old Second Bancorp

In other news, Director Rocks Patti Temple bought 5,625 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $17.79 per share, for a total transaction of $100,068.75. Following the transaction, the director now owns 18,679 shares of the company’s stock, valued at $332,299.41. The trade was a 43.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Old Second Bancorp

A number of hedge funds have recently bought and sold shares of OSBC. Dimensional Fund Advisors LP increased its holdings in shares of Old Second Bancorp by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock worth $25,188,000 after buying an additional 138,253 shares during the last quarter. Blair William & Co. IL increased its stake in Old Second Bancorp by 67.9% during the second quarter. Blair William & Co. IL now owns 18,610 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 7,525 shares during the last quarter. AQR Capital Management LLC raised its position in Old Second Bancorp by 20.1% during the second quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider’s stock valued at $4,561,000 after purchasing an additional 51,652 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of Old Second Bancorp in the 2nd quarter valued at approximately $759,000. Finally, Creative Planning boosted its holdings in shares of Old Second Bancorp by 28.9% in the 2nd quarter. Creative Planning now owns 29,597 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 6,639 shares during the period. Hedge funds and other institutional investors own 67.76% of the company’s stock.

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.