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

Raymond James lowered shares of Old Second Bancorp (NASDAQ:OSBC) from a strong-buy rating to an outperform rating in a report published on Tuesday, MarketBeat Ratings reports. The firm currently has $18.00 target price on the financial services provider’s stock, down from their previous target price of $19.00.

Several other analysts also recently weighed in on OSBC. DA Davidson lifted their target price on shares of Old Second Bancorp from $16.00 to $19.00 and gave the company a buy rating in a report on Friday, July 19th. Piper Sandler lifted their price objective on Old Second Bancorp from $18.00 to $19.50 and gave the company an overweight rating in a report on Friday, July 19th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $18.38.

Old Second Bancorp Trading Up 0.7 %

Shares of Old Second Bancorp stock opened at $16.73 on Tuesday. The company’s fifty day moving average is $16.35 and its two-hundred day moving average is $14.84. Old Second Bancorp has a 1 year low of $13.00 and a 1 year high of $17.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $750.27 million, a P/E ratio of 8.49 and a beta of 1.07.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old Second Bancorp had a return on equity of 14.83% and a net margin of 25.62%. The company had revenue of $70.82 million for the quarter, compared to analysts’ expectations of $70.03 million. Analysts forecast that Old Second Bancorp will post 1.91 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 26th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, July 26th. Old Second Bancorp’s dividend payout ratio is currently 10.15%.

Insiders Place Their Bets

In other news, Director John Ladowicz sold 30,585 shares of Old Second Bancorp stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $16.22, for a total transaction of $496,088.70. Following the completion of the sale, the director now directly owns 189,192 shares in the company, valued at approximately $3,068,694.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OSBC. Charles Schwab Investment Management Inc. grew its stake in Old Second Bancorp by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 379,626 shares of the financial services provider’s stock valued at $5,861,000 after acquiring an additional 10,827 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Old Second Bancorp by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,387,175 shares of the financial services provider’s stock valued at $21,419,000 after purchasing an additional 167,355 shares in the last quarter. Great Lakes Advisors LLC grew its position in shares of Old Second Bancorp by 6.9% in the fourth quarter. Great Lakes Advisors LLC now owns 184,195 shares of the financial services provider’s stock valued at $2,844,000 after purchasing an additional 11,853 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Old Second Bancorp during the 4th quarter worth approximately $396,000. Finally, Campbell & CO Investment Adviser LLC raised its position in shares of Old Second Bancorp by 90.0% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 69,265 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 32,815 shares during the last quarter. Institutional investors and hedge funds 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.