Old Second Bancorp (NASDAQ:OSBC) Announces Earnings Results

Old Second Bancorp (NASDAQ:OSBC) posted its quarterly earnings results on Thursday. The financial services provider reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01), Yahoo Finance reports. 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 analyst estimates of $69.50 million.

Old Second Bancorp Price Performance

Shares of OSBC stock opened at $13.97 on Friday. The firm has a market cap of $625.86 million, a P/E ratio of 6.97 and a beta of 1.10. The firm has a fifty day moving average of $13.49 and a two-hundred day moving average of $14.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. Old Second Bancorp has a 1-year low of $10.79 and a 1-year high of $16.76.

Old Second Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Friday, April 26th will be paid a $0.05 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.43%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 10.15%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Old Second Bancorp

A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its position 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 valued at $214,000 after acquiring an additional 640 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position 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 valued at $245,000 after buying an additional 758 shares during the last quarter. Rothschild & Co. Asset Management US Inc. lifted its holdings in Old Second Bancorp by 0.8% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 95,151 shares of the financial services provider’s stock worth $1,381,000 after acquiring an additional 779 shares during the last quarter. Prudential Financial Inc. boosted its stake in Old Second Bancorp by 1.9% in the second quarter. Prudential Financial Inc. now owns 58,298 shares of the financial services provider’s stock valued at $780,000 after acquiring an additional 1,110 shares during the period. Finally, Mariner LLC lifted its holdings in shares of Old Second Bancorp by 2.2% in the 4th quarter. Mariner LLC now owns 50,926 shares of the financial services provider’s stock worth $817,000 after purchasing an additional 1,116 shares during the last quarter. 67.76% of the stock is currently 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.