Old Second Bancorp (NASDAQ:OSBC) Price Target Raised to $22.00

Old Second Bancorp (NASDAQ:OSBC) had its price target raised by stock analysts at Stephens from $21.00 to $22.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Stephens’ price target would indicate a potential upside of 21.08% from the company’s current price.

Separately, Raymond James upgraded shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. One 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 stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $20.90.

Old Second Bancorp Trading Up 0.2 %

Shares of NASDAQ OSBC opened at $18.17 on Wednesday. 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 has a 52-week low of $13.00 and a 52-week high of $19.46. The firm has a 50 day moving average price of $18.31 and a two-hundred day moving average price of $17.42. The stock has a market cap of $814.98 million, a P/E ratio of 9.72 and a beta of 1.07.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. As a group, equities analysts forecast that Old Second Bancorp will post 1.86 EPS for the current year.

Insider Transactions at Old Second Bancorp

In other news, Director Rocks Patti Temple acquired 5,625 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $17.79 per share, for a total transaction of $100,068.75. Following the completion of the transaction, the director now directly owns 18,679 shares in the company, valued at $332,299.41. This represents a 43.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Old Second Bancorp

Several large investors have recently modified their holdings of OSBC. Principal Financial Group Inc. increased its position in shares of Old Second Bancorp by 11.5% during the third quarter. Principal Financial Group Inc. now owns 32,243 shares of the financial services provider’s stock worth $503,000 after buying an additional 3,313 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Old Second Bancorp during the third quarter worth $1,962,000. Aptus Capital Advisors LLC increased its position in shares of Old Second Bancorp by 15.6% during the third quarter. Aptus Capital Advisors LLC now owns 286,887 shares of the financial services provider’s stock worth $4,473,000 after buying an additional 38,804 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Old Second Bancorp during the third quarter worth $321,000. Finally, Empowered Funds LLC increased its position in shares of Old Second Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 115,181 shares of the financial services provider’s stock worth $1,796,000 after buying an additional 5,762 shares during the period. 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.