Old Second Bancorp (NASDAQ:OSBC) Stock Rating Lowered by Zacks Investment Research

Old Second Bancorp (NASDAQ:OSBC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Old Second Bancorp Inc.’s full service banking businesses include the customary consumer and commercial products and services which banks provide. The following services are included: demand, savings, time deposit, individual retirement and Keogh deposit accounts; commercial, industrial, consumer and real estate lending, including installment loans, student loans, farm loans, lines of credit and overdraft checking; safe deposit operations; trust services; and an extensive variety of additional services tailored to the needs of individual customers. “

Several other brokerages have also issued reports on OSBC. Raymond James set a $33.00 price objective on LKQ and gave the stock a “buy” rating in a report on Friday, April 26th. FIG Partners reiterated an “outperform” rating on shares of Sterling Bancorp in a report on Monday, April 29th. BidaskClub lowered Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Finally, ValuEngine lowered Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Old Second Bancorp presently has an average rating of “Hold” and an average target price of $15.67.

Shares of NASDAQ:OSBC opened at $12.69 on Friday. 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 1 year low of $11.32 and a 1 year high of $16.30. The stock’s fifty day moving average price is $12.52. The stock has a market capitalization of $379.39 million, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 1.45 and a beta of 0.96.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data 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%. The firm had revenue of $30.52 million for the quarter, compared to analysts’ expectations of $32.23 million. On average, sell-side analysts anticipate that Old Second Bancorp will post 1.25 earnings per share for the current fiscal year.

In other Old Second Bancorp news, EVP Keith Gottschalk sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $13.07, for a total transaction of $26,140.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.28% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of OSBC. Marshall Wace LLP bought a new position in Old Second Bancorp during the first quarter valued at about $60,000. Executive Wealth Management LLC bought a new position in Old Second Bancorp during the fourth quarter valued at about $62,000. Meeder Asset Management Inc. raised its holdings in Old Second Bancorp by 41.2% during the first quarter. Meeder Asset Management Inc. now owns 5,633 shares of the financial services provider’s stock valued at $71,000 after buying an additional 1,644 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Old Second Bancorp by 499.8% during the first quarter. BNP Paribas Arbitrage SA now owns 6,046 shares of the financial services provider’s stock valued at $76,000 after buying an additional 5,038 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Old Second Bancorp during the first quarter valued at about $119,000. Institutional investors own 68.72% of the company’s stock.

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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