Old Second Bancorp (NASDAQ:OSBC) Stock Rating Lowered by DA Davidson

DA Davidson lowered shares of Old Second Bancorp (NASDAQ:OSBC) from a buy rating to a neutral rating in a research note released on Wednesday morning, Marketbeat.com reports. They currently have $17.00 price objective on the financial services provider’s stock, down from their previous price objective of $19.00.

A number of other research firms have also recently commented on OSBC. Raymond James cut Old Second Bancorp from a strong-buy rating to an outperform rating and lowered their price target for the stock from $19.00 to $18.00 in a report on Tuesday, September 17th. Piper Sandler boosted their target price on shares of Old Second Bancorp from $18.00 to $19.50 and gave the stock an overweight rating in a report on Friday, July 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Old Second Bancorp presently has a consensus rating of Moderate Buy and a consensus target price of $17.88.

Old Second Bancorp Stock Down 6.0 %

Shares of OSBC stock opened at $15.30 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Old Second Bancorp has a one year low of $13.00 and a one year high of $17.46. The company’s fifty day moving average price is $16.33 and its 200-day moving average price is $14.91. The company has a market capitalization of $686.14 million, a price-to-earnings ratio of 7.77 and a beta of 1.07.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Old Second Bancorp had a net margin of 25.62% and a return on equity of 14.83%. The business had revenue of $70.82 million for the quarter, compared to the consensus estimate of $70.03 million. Sell-side analysts expect that Old Second Bancorp will post 1.91 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 26th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, July 26th. This represents a $0.20 annualized dividend and a dividend yield of 1.31%. Old Second Bancorp’s dividend payout ratio (DPR) is 10.15%.

Insider Activity

In related news, Director John Ladowicz sold 30,585 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $16.22, for a total value of $496,088.70. Following the sale, the director now owns 189,192 shares in the company, valued at $3,068,694.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Old Second Bancorp

A number of large investors have recently made changes to their positions in OSBC. Charles Schwab Investment Management Inc. increased its stake in Old Second Bancorp by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 379,626 shares of the financial services provider’s stock worth $5,861,000 after acquiring an additional 10,827 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Old Second Bancorp by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,387,175 shares of the financial services provider’s stock valued at $21,419,000 after purchasing an additional 167,355 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in Old Second Bancorp by 90.0% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 69,265 shares of the financial services provider’s stock valued at $1,069,000 after buying an additional 32,815 shares during the period. The Manufacturers Life Insurance Company lifted its position in Old Second Bancorp by 9.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,061,824 shares of the financial services provider’s stock worth $16,395,000 after buying an additional 91,442 shares during the last quarter. Finally, Banc Funds Co. LLC boosted its stake in Old Second Bancorp by 3.7% during the fourth quarter. Banc Funds Co. LLC now owns 2,126,262 shares of the financial services provider’s stock worth $32,829,000 after buying an additional 74,952 shares during the period. 67.76% of the stock is currently owned by institutional investors.

About Old Second Bancorp

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.