Old Second Bancorp, Inc. Expected to Post Q2 2024 Earnings of $0.47 Per Share (NASDAQ:OSBC)

Old Second Bancorp, Inc. (NASDAQ:OSBC) – Equities researchers at DA Davidson issued their Q2 2024 earnings estimates for shares of Old Second Bancorp in a research note issued to investors on Friday, April 19th. DA Davidson analyst J. Rulis anticipates that the financial services provider will post earnings of $0.47 per share for the quarter. The consensus estimate for Old Second Bancorp’s current full-year earnings is $1.88 per share. DA Davidson also issued estimates for Old Second Bancorp’s FY2025 earnings at $1.95 EPS.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $83.83 million during the quarter, compared to analyst estimates of $69.50 million. Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%.

OSBC has been the topic of a number of other reports. Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of Old Second Bancorp in a research note on Friday, April 19th. Raymond James raised Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research report on Thursday, April 4th.

Old Second Bancorp Stock Performance

NASDAQ:OSBC opened at $14.50 on Monday. The firm has a market cap of $649.61 million, a PE ratio of 7.36 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. Old Second Bancorp has a 1-year low of $10.79 and a 1-year high of $16.76. The firm has a 50 day simple moving average of $13.56 and a 200-day simple moving average of $14.20.

Old Second Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 26th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, April 25th. Old Second Bancorp’s dividend payout ratio is presently 10.15%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of Old Second Bancorp during the third quarter worth about $34,000. Criterion Capital Advisors LLC acquired a new position in Old Second Bancorp during the 4th quarter worth $46,000. Allspring Global Investments Holdings LLC raised its stake in shares of Old Second Bancorp by 86.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,152 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,464 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Old Second Bancorp during the fourth quarter valued at approximately $149,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Old Second Bancorp in the 4th quarter worth approximately $172,000. 67.76% of the stock is owned by institutional investors and hedge funds.

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.