Zacks Research Upgrades Old Second Bancorp (NASDAQ:OSBC) to “Strong-Buy”

Old Second Bancorp (NASDAQ:OSBC) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research firms also recently commented on OSBC. DA Davidson upped their target price on Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Piper Sandler reissued an “overweight” rating and set a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a report on Monday. Raymond James Financial began coverage on Old Second Bancorp in a report on Tuesday, July 7th. They issued an “outperform” rating and a $26.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Old Second Bancorp currently has an average rating of “Buy” and an average price target of $25.40.

Old Second Bancorp Stock Performance

NASDAQ OSBC opened at $25.29 on Thursday. Old Second Bancorp has a 52-week low of $16.42 and a 52-week high of $25.67. The stock has a market cap of $1.30 billion, a PE ratio of 14.53 and a beta of 0.70. The firm has a 50-day moving average of $22.77 and a 200-day moving average of $21.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $96.59 million for the quarter, compared to analysts’ expectations of $94.88 million. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.85%. On average, sell-side analysts anticipate that Old Second Bancorp will post 2.2 EPS for the current year.

Institutional Investors Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. acquired a new stake in shares of Old Second Bancorp in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Old Second Bancorp by 458.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,215 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Old Second Bancorp during the 4th quarter worth $27,000. Parkside Financial Bank & Trust acquired a new position in shares of Old Second Bancorp during the 4th quarter worth $45,000. Finally, Clearstead Advisors LLC lifted its position in shares of Old Second Bancorp by 793.8% during the 4th quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock worth $47,000 after buying an additional 2,159 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.