Zacks: Brokerages Anticipate Old Second Bancorp, Inc. (OSBC) Will Post Quarterly Sales of $27.30 Million
Analysts expect Old Second Bancorp, Inc. (NASDAQ:OSBC) to post sales of $27.30 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Old Second Bancorp’s earnings, with estimates ranging from $26.20 million to $28.40 million. Old Second Bancorp reported sales of $24.73 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.4%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Old Second Bancorp will report full-year sales of $126.90 million for the current year, with estimates ranging from $117.20 million to $136.60 million. For the next year, analysts expect that the business will post sales of $141.20 million per share, with estimates ranging from $129.90 million to $152.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Old Second Bancorp.
OSBC has been the topic of a number of research reports. Zacks Investment Research lowered Old Second Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods raised Old Second Bancorp from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. ValuEngine lowered Old Second Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, BidaskClub lowered Old Second Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $13.17.
Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in Old Second Bancorp by 28.1% during the third quarter. Wells Fargo & Company MN now owns 91,224 shares of the financial services provider’s stock worth $1,227,000 after buying an additional 20,012 shares in the last quarter. AlphaOne Investment Services LLC bought a new stake in Old Second Bancorp during the fourth quarter worth $1,426,000. Russell Investments Group Ltd. grew its holdings in Old Second Bancorp by 89.4% during the third quarter. Russell Investments Group Ltd. now owns 448,154 shares of the financial services provider’s stock worth $6,028,000 after buying an additional 211,500 shares in the last quarter. Banc Funds Co. LLC grew its holdings in Old Second Bancorp by 3.0% during the fourth quarter. Banc Funds Co. LLC now owns 2,517,384 shares of the financial services provider’s stock worth $34,362,000 after buying an additional 73,000 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in Old Second Bancorp by 12.1% during the fourth quarter. California Public Employees Retirement System now owns 98,656 shares of the financial services provider’s stock worth $1,347,000 after buying an additional 10,659 shares in the last quarter. 69.04% of the stock is currently owned by institutional investors.
Shares of NASDAQ:OSBC traded up $0.20 during trading on Monday, reaching $14.35. 52,474 shares of the stock were exchanged, compared to its average volume of 87,436. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.51. Old Second Bancorp has a 1-year low of $10.75 and a 1-year high of $15.00. The firm has a market capitalization of $420.16, a price-to-earnings ratio of 27.08, a PEG ratio of 1.93 and a beta of 0.82.
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Old Second Bancorp Company Profile
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank that provides a range of banking services. The company accepts demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers revolving lines of credit for working capital; lending for capital expenditures on manufacturing equipment; lending to small business manufactures, service companies, medical and dental entities, and specialty contractors; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage loans, second mortgage loans, and home equity line of credit mortgages; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans, as well as student loans; and overdraft checking.
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