Old Second Bancorp Inc. (NASDAQ:OSBC) Receives $16.50 Consensus Target Price from Brokerages

Shares of Old Second Bancorp Inc. (NASDAQ:OSBC) have received a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $16.50.

OSBC has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Friday, July 12th. Raymond James set a $33.00 price target on shares of LKQ and gave the stock a “buy” rating in a research note on Friday, April 26th. ValuEngine downgraded shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. BidaskClub downgraded shares of Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. Finally, FIG Partners reissued an “outperform” rating on shares of Sterling Bancorp in a research note on Monday, April 29th.

In other Old Second Bancorp news, EVP Keith Gottschalk sold 2,000 shares of Old Second Bancorp stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $13.07, for a total transaction of $26,140.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.28% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Old Second Bancorp by 2.0% in the fourth quarter. BlackRock Inc. now owns 2,051,586 shares of the financial services provider’s stock worth $26,671,000 after purchasing an additional 39,292 shares during the last quarter. Kennedy Capital Management Inc. raised its stake in shares of Old Second Bancorp by 12.8% in the first quarter. Kennedy Capital Management Inc. now owns 509,950 shares of the financial services provider’s stock worth $6,420,000 after purchasing an additional 57,991 shares during the last quarter. Castine Capital Management LLC raised its stake in shares of Old Second Bancorp by 1.7% in the first quarter. Castine Capital Management LLC now owns 472,108 shares of the financial services provider’s stock worth $5,943,000 after purchasing an additional 7,986 shares during the last quarter. Northern Trust Corp raised its stake in shares of Old Second Bancorp by 4.1% in the fourth quarter. Northern Trust Corp now owns 365,595 shares of the financial services provider’s stock worth $4,753,000 after purchasing an additional 14,445 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Old Second Bancorp by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 310,558 shares of the financial services provider’s stock worth $4,036,000 after purchasing an additional 15,933 shares during the last quarter. 68.68% of the stock is currently owned by institutional investors.

Shares of OSBC stock traded up $0.14 during trading hours on Friday, reaching $12.64. The stock had a trading volume of 510 shares, compared to its average volume of 46,670. The stock has a fifty day simple moving average of $12.52. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. Old Second Bancorp has a 12 month low of $11.32 and a 12 month high of $16.30. The firm has a market capitalization of $375.50 million, a price-to-earnings ratio of 11.25, a PEG ratio of 1.43 and a beta of 0.96.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Old Second Bancorp had a net margin of 23.12% and a return on equity of 15.76%. The firm had revenue of $30.52 million during the quarter, compared to the consensus estimate of $32.23 million. As a group, equities analysts expect that Old Second Bancorp will post 1.25 EPS for the current fiscal year.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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