Old Second Bancorp (NASDAQ:OSBC) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) had its price objective hoisted by research analysts at Keefe, Bruyette & Woods from $22.00 to $24.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 31.36% from the stock's previous close.

Several other research firms also recently commented on OSBC. Raymond James raised Old Second Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, December 19th. Stephens boosted their target price on shares of Old Second Bancorp from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $20.90.

Old Second Bancorp Stock Down 0.4 %

Shares of NASDAQ OSBC traded down $0.07 during mid-day trading on Thursday, hitting $18.27. The company had a trading volume of 200,685 shares, compared to its average volume of 228,527. The business's 50-day simple moving average is $18.34 and its 200 day simple moving average is $17.47. The company has a market capitalization of $819.46 million, a PE ratio of 9.77 and a beta of 1.07. Old Second Bancorp has a 1-year low of $13.00 and a 1-year high of $19.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

Remove Ads

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.04). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. On average, analysts predict that Old Second Bancorp will post 1.86 earnings per share for the current year.

Insider Activity

In other Old Second Bancorp news, Director Rocks Patti Temple bought 5,625 shares of the business's stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $17.79 per share, with a total value of $100,068.75. Following the transaction, the director now directly owns 18,679 shares in the company, valued at approximately $332,299.41. This trade represents a 43.09 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OSBC. Vanguard Group Inc. grew its position in shares of Old Second Bancorp by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,637,718 shares of the financial services provider's stock worth $46,899,000 after acquiring an additional 181,783 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Old Second Bancorp by 7.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,019,433 shares of the financial services provider's stock valued at $35,906,000 after acquiring an additional 134,455 shares during the period. State Street Corp grew its holdings in shares of Old Second Bancorp by 6.5% during the third quarter. State Street Corp now owns 1,264,359 shares of the financial services provider's stock valued at $19,711,000 after purchasing an additional 77,143 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Old Second Bancorp by 16.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider's stock valued at $17,174,000 after purchasing an additional 153,187 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Old Second Bancorp by 10.5% during the fourth quarter. American Century Companies Inc. now owns 1,038,495 shares of the financial services provider's stock valued at $18,464,000 after buying an additional 98,617 shares during 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.