Old Second Bancorp (NASDAQ:OSBC) PT Raised to $23.00

Old Second Bancorp (NASDAQ:OSBC) had its price target hoisted by equities researchers at Piper Sandler from $22.50 to $23.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 34.27% from the stock’s current price.

OSBC has been the topic of several other reports. DA Davidson cut shares of Old Second Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $17.00 in a report on Wednesday, September 25th. Raymond James lowered shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $19.00 to $18.00 in a report on Tuesday, September 17th.

Old Second Bancorp Stock Up 0.5 %

Shares of NASDAQ:OSBC opened at $17.13 on Friday. The business’s 50 day moving average is $16.08 and its 200 day moving average is $15.15. The stock has a market cap of $768.21 million, a P/E ratio of 8.70 and a beta of 1.06. Old Second Bancorp has a 52-week low of $13.00 and a 52-week high of $17.46. 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). The firm had revenue of $70.82 million for the quarter, compared to the consensus estimate of $70.03 million. Old Second Bancorp had a return on equity of 14.83% and a net margin of 25.62%. Sell-side analysts predict that Old Second Bancorp will post 1.89 EPS for the current year.

Insider Transactions at Old Second Bancorp

In other Old Second Bancorp news, Director John Ladowicz sold 30,585 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 189,192 shares in the company, valued at $3,068,694.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.80% of the company’s stock.

Institutional Trading of Old Second Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Old Second Bancorp by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock valued at $33,548,000 after buying an additional 45,955 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Old Second Bancorp by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock worth $25,188,000 after acquiring an additional 138,253 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Old Second Bancorp by 19.7% during the second quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock valued at $11,851,000 after acquiring an additional 131,623 shares in the last quarter. Davis Asset Management L.P. purchased a new position in shares of Old Second Bancorp in the 2nd quarter valued at approximately $8,623,000. Finally, Wellington Management Group LLP boosted its stake in Old Second Bancorp by 50.5% in the 4th quarter. Wellington Management Group LLP now owns 387,800 shares of the financial services provider’s stock worth $5,988,000 after purchasing an additional 130,200 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

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.