Stephens Reiterates Overweight Rating for Old Second Bancorp (NASDAQ:OSBC)

Old Second Bancorp (NASDAQ:OSBC)‘s stock had its “overweight” rating reiterated by equities researchers at Stephens in a report released on Friday, Benzinga reports. They presently have a $17.00 target price on the financial services provider’s stock. Stephens’ price objective points to a potential upside of 21.26% from the stock’s current price.

Separately, Raymond James upgraded Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research report on Thursday, April 4th.

Old Second Bancorp Stock Performance

OSBC stock traded up $0.28 during midday trading on Friday, reaching $14.02. The company had a trading volume of 41,796 shares, compared to its average volume of 174,373. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $13.49 and a 200 day moving average price of $14.17. Old Second Bancorp has a fifty-two week low of $10.79 and a fifty-two week high of $16.76. The firm has a market capitalization of $628.10 million, a PE ratio of 7.11 and a beta of 1.10.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%. The company had revenue of $83.83 million during the quarter, compared to analyst estimates of $69.50 million. Analysts anticipate that Old Second Bancorp will post 1.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OSBC. Quantbot Technologies LP bought a new position in shares of Old Second Bancorp in the third quarter valued at $34,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Old Second Bancorp by 86.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,152 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,464 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in Old Second Bancorp during the 4th quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Old Second Bancorp during the 2nd quarter valued at $48,000. Finally, Tower Research Capital LLC TRC raised its stake in Old Second Bancorp by 281.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,033 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 5,925 shares during the period. 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.