Old Second Bancorp (NASDAQ:OSBC) Given “Overweight” Rating at Piper Sandler

Old Second Bancorp (NASDAQ:OSBC)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a report issued on Wednesday,Benzinga reports. They presently have a $24.50 target price on the financial services provider’s stock, up from their previous target price of $22.00. Piper Sandler’s price target points to a potential upside of 28.41% from the stock’s previous close.

OSBC has been the subject of several other reports. Keefe, Bruyette & Woods decreased their target price on Old Second Bancorp from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Wall Street Zen lowered Old Second Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 28th. Finally, Stephens decreased their target price on Old Second Bancorp from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.50.

Old Second Bancorp Trading Up 1.0%

NASDAQ OSBC opened at $19.08 on Wednesday. The firm has a market capitalization of $859.74 million, a P/E ratio of 10.43 and a beta of 0.81. The business has a fifty day simple moving average of $16.86 and a 200 day simple moving average of $17.15. Old Second Bancorp has a 12 month low of $14.14 and a 12 month high of $19.46. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). Old Second Bancorp had a net margin of 24.52% and a return on equity of 12.87%. The business had revenue of $73.57 million for the quarter, compared to analysts’ expectations of $60.00 million. On average, analysts predict that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Old Second Bancorp

Several large investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its holdings in Old Second Bancorp by 3.9% in the 1st quarter. Alps Advisors Inc. now owns 21,698 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 808 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Old Second Bancorp by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 843 shares during the last quarter. Quarry LP increased its holdings in Old Second Bancorp by 70.1% in the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 974 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Old Second Bancorp by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 36,434 shares of the financial services provider’s stock worth $606,000 after acquiring an additional 1,109 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in Old Second Bancorp by 20.2% in the 4th quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 1,264 shares during the last quarter. Hedge funds and other institutional investors 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.