Old Second Bancorp (NASDAQ:OSBC) Issues Earnings Results

Old Second Bancorp (NASDAQ:OSBC) announced 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. Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%. The business had revenue of $83.83 million during the quarter, compared to analysts’ expectations of $69.50 million.

Old Second Bancorp Trading Up 5.0 %

Shares of OSBC stock opened at $14.43 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $646.46 million, a P/E ratio of 7.32 and a beta of 1.10. Old Second Bancorp has a 1-year low of $10.79 and a 1-year high of $16.76. The firm’s 50-day simple moving average is $13.51 and its 200-day simple moving average is $14.17.

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Friday, April 26th will be given 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 (DPR) is presently 10.15%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Old Second Bancorp by 11.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 80,334 shares of the financial services provider’s stock valued at $1,166,000 after purchasing an additional 8,231 shares during the period. Mariner LLC grew its stake in shares of Old Second Bancorp by 13.0% during the first quarter. Mariner LLC now owns 42,960 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 4,945 shares in the last quarter. EJF Capital LLC grew its stake in shares of Old Second Bancorp by 140.4% during the first quarter. EJF Capital LLC now owns 849,682 shares of the financial services provider’s stock valued at $12,329,000 after acquiring an additional 496,218 shares in the last quarter. First Trust Advisors LP increased its position in shares of Old Second Bancorp by 9.8% during the first quarter. First Trust Advisors LP now owns 14,624 shares of the financial services provider’s stock worth $212,000 after acquiring an additional 1,302 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of Old Second Bancorp by 73.9% in the first quarter. Prudential Financial Inc. now owns 57,188 shares of the financial services provider’s stock worth $830,000 after acquiring an additional 24,300 shares in the last quarter. 67.76% of the stock is owned by institutional investors and hedge funds.

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.