DA Davidson Equities Analysts Cut Earnings Estimates for Old Second Bancorp, Inc. (NASDAQ:OSBC)

Old Second Bancorp, Inc. (NASDAQ:OSBC) – Analysts at DA Davidson dropped their Q3 2024 earnings per share (EPS) estimates for Old Second Bancorp in a report issued on Thursday, September 26th. DA Davidson analyst J. Rulis now expects that the financial services provider will post earnings per share of $0.46 for the quarter, down from their previous forecast of $0.47. DA Davidson has a “Neutral” rating and a $17.00 price objective on the stock. The consensus estimate for Old Second Bancorp’s current full-year earnings is $1.91 per share. DA Davidson also issued estimates for Old Second Bancorp’s FY2024 earnings at $1.85 EPS and FY2025 earnings at $1.70 EPS.

OSBC has been the topic of several other reports. Raymond James cut shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th. Piper Sandler boosted their price objective on shares of Old Second Bancorp from $18.00 to $19.50 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.88.

Old Second Bancorp Trading Up 0.3 %

NASDAQ:OSBC opened at $15.42 on Friday. The stock’s 50 day moving average price is $16.31 and its 200 day moving average price is $14.92. Old Second Bancorp has a 52-week low of $13.00 and a 52-week high of $17.46. The company has a market capitalization of $691.53 million, a PE ratio of 7.83 and a beta of 1.07. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share (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 company had revenue of $70.82 million during the quarter, compared to analyst estimates of $70.03 million.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 26th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $0.20 annualized dividend and a yield of 1.30%. Old Second Bancorp’s dividend payout ratio is presently 10.15%.

Insider Activity at Old Second Bancorp

In related news, Director John Ladowicz sold 30,585 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $16.22, for a total transaction of $496,088.70. Following the completion of the transaction, the director now owns 189,192 shares of the company’s stock, valued at $3,068,694.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by insiders.

Institutional Trading of Old Second Bancorp

Large investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in Old Second Bancorp during the second quarter worth $33,000. Innealta Capital LLC bought a new stake in Old Second Bancorp in the second quarter valued at approximately $49,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Old Second Bancorp by 19.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 853 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Old Second Bancorp during the first quarter worth $90,000. Finally, PL Capital Advisors LLC bought a new position in shares of Old Second Bancorp during the first quarter worth about $111,000. 67.76% of the stock is 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.