Stephens Reaffirms “Overweight” Rating for Old Second Bancorp (NASDAQ:OSBC)

Stephens restated their overweight rating on shares of Old Second Bancorp (NASDAQ:OSBC) in a research report released on Friday morning, Benzinga reports. The firm currently has a $17.00 price target on the financial services provider’s stock.

Separately, Raymond James upgraded Old Second Bancorp from an outperform rating to a strong-buy rating and set a $17.00 price objective on the stock in a research note on Thursday, April 4th.

Old Second Bancorp Trading Up 5.0 %

Shares of Old Second Bancorp stock opened at $14.43 on Friday. Old Second Bancorp has a 12-month low of $10.79 and a 12-month high of $16.76. The stock has a market cap of $646.46 million, a P/E ratio of 7.32 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $13.51 and its 200-day moving average is $14.19.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Old Second Bancorp had a return on equity of 16.78% and a net margin of 26.90%. The company had revenue of $83.83 million for the quarter, compared to the consensus estimate of $69.50 million. Equities research analysts predict that Old Second Bancorp will post 1.88 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Friday, April 26th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, April 25th. Old Second Bancorp’s payout ratio is presently 10.15%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Legal & General Group Plc increased its holdings in shares of Old Second Bancorp by 5.0% during the 4th quarter. Legal & General Group Plc now owns 13,369 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 640 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Old Second Bancorp by 5.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,825 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 758 shares during the last quarter. Rothschild & Co. Asset Management US Inc. grew its holdings in Old Second Bancorp by 0.8% in the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 95,151 shares of the financial services provider’s stock valued at $1,381,000 after buying an additional 779 shares in the last quarter. Swiss National Bank grew its holdings in Old Second Bancorp by 0.9% in the 3rd quarter. Swiss National Bank now owns 98,100 shares of the financial services provider’s stock valued at $1,335,000 after buying an additional 900 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in Old Second Bancorp by 1.9% in the 2nd quarter. Prudential Financial Inc. now owns 58,298 shares of the financial services provider’s stock valued at $780,000 after buying an additional 1,110 shares in the last quarter. 67.76% of the stock is owned by institutional investors and hedge funds.

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.