FIG Partners Research Analysts Lift Earnings Estimates for Old Second Bancorp Inc. (OSBC)

Old Second Bancorp Inc. (NASDAQ:OSBC) – Stock analysts at FIG Partners increased their Q2 2019 earnings per share (EPS) estimates for Old Second Bancorp in a note issued to investors on Monday, April 29th, Zacks Investment Research reports. FIG Partners analyst B. Martin now forecasts that the financial services provider will post earnings of $0.31 per share for the quarter, up from their prior forecast of $0.30. FIG Partners has a “Outperform” rating on the stock. FIG Partners also issued estimates for Old Second Bancorp’s Q3 2019 earnings at $0.32 EPS, Q4 2019 earnings at $0.32 EPS, FY2019 earnings at $1.25 EPS and FY2020 earnings at $1.31 EPS.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). Old Second Bancorp had a return on equity of 15.76% and a net margin of 23.12%.

Several other analysts have also issued reports on the stock. Zacks Investment Research raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday, May 3rd. BidaskClub upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Raymond James set a $15.00 price objective on shares of Old Second Bancorp and gave the company a “buy” rating in a report on Friday, April 26th. Finally, ValuEngine downgraded shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $16.00.

NASDAQ OSBC traded down $0.15 on Thursday, hitting $12.85. 35,500 shares of the stock were exchanged, compared to its average volume of 66,260. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. Old Second Bancorp has a 52 week low of $11.32 and a 52 week high of $16.30. The firm has a market capitalization of $383.87 million, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.46 and a beta of 0.96.

Several large investors have recently added to or reduced their stakes in OSBC. Meeder Asset Management Inc. increased its holdings in shares of Old Second Bancorp by 178.6% in the fourth quarter. Meeder Asset Management Inc. now owns 3,989 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 2,557 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Old Second Bancorp in the first quarter valued at about $60,000. Executive Wealth Management LLC acquired a new position in shares of Old Second Bancorp in the fourth quarter valued at about $62,000. BNP Paribas Arbitrage SA grew its stake in shares of Old Second Bancorp by 499.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,046 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 5,038 shares in the last quarter. Finally, Ramsey Quantitative Systems grew its stake in shares of Old Second Bancorp by 83.9% in the fourth quarter. Ramsey Quantitative Systems now owns 6,436 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 2,936 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

In other Old Second Bancorp news, EVP Keith Gottschalk sold 2,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $13.07, for a total value of $26,140.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.28% of the stock is owned by insiders.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Friday, April 26th were issued a $0.01 dividend. The ex-dividend date was Thursday, April 25th. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. Old Second Bancorp’s dividend payout ratio is currently 3.57%.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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Earnings History and Estimates for Old Second Bancorp (NASDAQ:OSBC)

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