Old Second Bancorp (NASDAQ:OSBC) Announces Earnings Results

Old Second Bancorp (NASDAQ:OSBC) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $83.83 million for the quarter, compared to analysts’ expectations of $69.50 million.

Old Second Bancorp Stock Up 5.0 %

Shares of NASDAQ OSBC traded up $0.69 during mid-day trading on Friday, reaching $14.43. The company had a trading volume of 232,046 shares, compared to its average volume of 175,783. The stock has a fifty day moving average of $13.49 and a two-hundred day moving average of $14.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $646.46 million, a price-to-earnings ratio of 7.11 and a beta of 1.10. Old Second Bancorp has a 12-month low of $10.79 and a 12-month high of $16.76.

Old Second Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Friday, April 26th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, April 25th. Old Second Bancorp’s dividend payout ratio (DPR) is 10.15%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Old Second Bancorp

A number of hedge funds have recently made changes to their positions in OSBC. BlackRock Inc. increased its holdings in Old Second Bancorp by 0.6% in the second quarter. BlackRock Inc. now owns 3,338,474 shares of the financial services provider’s stock worth $43,600,000 after buying an additional 21,443 shares during the last quarter. Vanguard Group Inc. increased its holdings in Old Second Bancorp by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 2,378,028 shares of the financial services provider’s stock worth $36,717,000 after buying an additional 117,431 shares during the last quarter. State Street Corp increased its holdings in Old Second Bancorp by 3.6% in the second quarter. State Street Corp now owns 1,124,787 shares of the financial services provider’s stock worth $14,690,000 after buying an additional 39,018 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Old Second Bancorp by 0.3% in the first quarter. The Manufacturers Life Insurance Company now owns 1,075,355 shares of the financial services provider’s stock worth $15,603,000 after buying an additional 2,969 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Old Second Bancorp by 27.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,061,815 shares of the financial services provider’s stock worth $17,031,000 after buying an additional 231,045 shares during the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

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.