Old Second Bancorp (NASDAQ:OSBC) Issues Earnings Results

Old Second Bancorp (NASDAQ:OSBC) released its quarterly earnings results on Thursday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01), Yahoo Finance reports. The business had revenue of $83.83 million during the quarter, compared to the consensus estimate of $69.50 million. Old Second Bancorp had a return on equity of 16.78% and a net margin of 26.90%.

Old Second Bancorp Price Performance

Shares of Old Second Bancorp stock opened at $14.43 on Friday. Old Second Bancorp has a 52 week low of $10.79 and a 52 week high of $16.76. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $13.51 and its two-hundred day moving average price is $14.17. The stock has a market cap of $646.46 million, a PE ratio of 7.32 and a beta of 1.10.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Friday, April 26th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.20 annualized dividend and a yield of 1.39%. Old Second Bancorp’s dividend payout ratio is currently 10.15%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OSBC. Stephens reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of Old Second Bancorp in a report on Friday. Raymond James raised shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research note on Thursday, April 4th.

Hedge Funds Weigh In On Old Second Bancorp

Several hedge funds have recently made changes to their positions in OSBC. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Old Second Bancorp during the second quarter worth approximately $48,000. Tower Research Capital LLC TRC lifted its position in shares of Old Second Bancorp by 281.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,033 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 5,925 shares during the last quarter. UBS Group AG boosted its stake in shares of Old Second Bancorp by 140.8% during the 2nd quarter. UBS Group AG now owns 11,068 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 6,471 shares in the last quarter. LPL Financial LLC acquired a new position in shares of Old Second Bancorp in the 2nd quarter worth $161,000. Finally, State of Wyoming raised its position in shares of Old Second Bancorp by 190.3% during the fourth quarter. State of Wyoming now owns 10,144 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 6,650 shares during the period. Institutional investors and hedge funds own 67.76% of the company’s stock.

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.