Old Second Bancorp (NASDAQ:OSBC) Issues Earnings Results

Old Second Bancorp (NASDAQ:OSBC) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05, Zacks reports. Old Second Bancorp had a return on equity of 13.36% and a net margin of 20.00%.The firm had revenue of $95.21 million during the quarter, compared to analyst estimates of $82.49 million.

Old Second Bancorp Trading Down 1.0%

Shares of NASDAQ OSBC opened at $21.26 on Friday. The business has a 50 day simple moving average of $19.76 and a 200 day simple moving average of $18.57. Old Second Bancorp has a 52 week low of $14.14 and a 52 week high of $22.00. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 13.04 and a beta of 0.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.89 and a current ratio of 0.89.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Friday, January 30th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, January 30th. Old Second Bancorp’s payout ratio is currently 18.54%.

Analyst Ratings Changes

OSBC has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Finally, Wall Street Zen raised shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Old Second Bancorp has an average rating of “Moderate Buy” and a consensus target price of $21.63.

Insider Transactions at Old Second Bancorp

In other news, insider Darin Patrick Campbell sold 31,159 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $17.89, for a total transaction of $557,434.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Old Second Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position 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 worth $26,000 after acquiring an additional 1,215 shares during the period. Strs Ohio acquired a new position in shares of Old Second Bancorp in the first quarter valued at $88,000. Tower Research Capital LLC TRC raised its stake in shares of Old Second Bancorp by 446.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,306 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 5,153 shares in the last quarter. Lazard Asset Management LLC bought a new position in Old Second Bancorp in the second quarter worth $125,000. Finally, Squarepoint Ops LLC acquired a new stake in Old Second Bancorp during the third quarter worth $179,000. 67.76% of the stock is currently owned by institutional investors.

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.