Old Second Bancorp (NASDAQ:OSBC) Price Target Lowered to $22.00 at Keefe, Bruyette & Woods

Old Second Bancorp (NASDAQ:OSBC - Free Report) had its target price lowered by Keefe, Bruyette & Woods from $24.00 to $22.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider's stock.

Separately, Stephens upped their target price on Old Second Bancorp from $21.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $20.10.

Old Second Bancorp Stock Up 2.6 %

Shares of Old Second Bancorp stock traded up $0.40 on Friday, hitting $15.97. The company had a trading volume of 237,154 shares, compared to its average volume of 252,950. The stock has a market capitalization of $719.40 million, a price-to-earnings ratio of 8.54 and a beta of 0.84. Old Second Bancorp has a 1 year low of $13.27 and a 1 year high of $19.46. The stock has a 50 day moving average of $16.33 and a 200-day moving average of $17.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The business had revenue of $73.57 million during the quarter, compared to the consensus estimate of $60.00 million. Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. As a group, sell-side analysts forecast that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 25th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Friday, April 25th. Old Second Bancorp's dividend payout ratio is currently 13.11%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OSBC. Quarry LP raised its stake in Old Second Bancorp by 70.1% in the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 974 shares during the period. GAMMA Investing LLC raised its stake in Old Second Bancorp by 4,125.0% in the 1st quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider's stock valued at $90,000 after acquiring an additional 5,280 shares during the period. R Squared Ltd bought a new stake in Old Second Bancorp in the 4th quarter valued at about $96,000. Quantbot Technologies LP raised its stake in Old Second Bancorp by 20.2% in the 4th quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider's stock valued at $134,000 after acquiring an additional 1,264 shares during the period. Finally, Aquatic Capital Management LLC raised its stake in Old Second Bancorp by 47.3% in the 4th quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider's stock valued at $141,000 after acquiring an additional 2,556 shares during the period. Hedge funds and other institutional investors own 67.76% of the company's stock.

Old Second Bancorp Company Profile

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.