Old Second Bancorp (NASDAQ:OSBC) Stock Rating Upgraded by Raymond James

Raymond James upgraded shares of Old Second Bancorp (NASDAQ:OSBC - Free Report) from a moderate buy rating to a strong-buy rating in a report issued on Thursday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Piper Sandler boosted their price target on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. DA Davidson set a $18.00 target price on Old Second Bancorp in a research note on Thursday, October 17th.

Old Second Bancorp Trading Up 2.2 %

Shares of NASDAQ OSBC traded up $0.38 during mid-day trading on Thursday, reaching $17.66. 487,662 shares of the company's stock were exchanged, compared to its average volume of 233,988. The company's 50-day moving average is $17.76 and its 200-day moving average is $16.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $792.10 million, a price-to-earnings ratio of 9.55 and a beta of 1.08. Old Second Bancorp has a 52-week low of $13.00 and a 52-week high of $19.37.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. The business had revenue of $71.16 million during the quarter, compared to analyst estimates of $70.95 million. Analysts expect that Old Second Bancorp will post 1.95 EPS for the current fiscal year.

Old Second Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 25th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.36%. This is an increase from Old Second Bancorp's previous quarterly dividend of $0.05. The ex-dividend date was Friday, October 25th. Old Second Bancorp's payout ratio is 12.97%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Princeton Capital Management LLC boosted its holdings in Old Second Bancorp by 7.8% in the third quarter. Princeton Capital Management LLC now owns 13,770 shares of the financial services provider's stock valued at $215,000 after purchasing an additional 1,000 shares in the last quarter. Lakewood Asset Management LLC boosted its holdings in shares of Old Second Bancorp by 8.8% in the 3rd quarter. Lakewood Asset Management LLC now owns 19,951 shares of the financial services provider's stock valued at $311,000 after buying an additional 1,612 shares in the last quarter. Hunter Perkins Capital Management LLC grew its position in shares of Old Second Bancorp by 3.7% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 52,955 shares of the financial services provider's stock valued at $826,000 after buying an additional 1,870 shares during the last quarter. Rhumbline Advisers raised its stake in Old Second Bancorp by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 73,155 shares of the financial services provider's stock worth $1,083,000 after acquiring an additional 1,923 shares in the last quarter. Finally, CWM LLC lifted its position in Old Second Bancorp by 36.3% in the third quarter. CWM LLC now owns 7,966 shares of the financial services provider's stock valued at $124,000 after acquiring an additional 2,123 shares during the last quarter. 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.