Former second Bancorp, Inc. (NASDAQ: OSBC – Get a rating) – DA Davidson raised its earnings per share (EPS) estimates for fiscal year 2022 for Old Second Bancorp in a report released Thursday, June 30. DA Davidson analyst Navas now expects the financial services provider to post earnings of $1.82 per share for the year, up from its previous estimate of $1.65. DA Davidson currently has a “Buy” rating and a target price of $22.00 on the stock. The consensus estimate of Old Second Bancorp’s current annual earnings is $1.51 per share.
Former second Bancorp (NASDAQ: OSBC – Get a rating) last released its quarterly earnings data on Wednesday, April 27. The financial services provider reported EPS of $0.36 for the quarter, beating analyst consensus estimates of $0.24 by $0.12. The company posted revenue of $54.73 million for the quarter, versus analyst estimates of $53.10 million. Old Second Bancorp had a return on equity of 11.41% and a net margin of 12.26%.
Separately, StockNews.com threw a blanket on Old Second Bancorp in a research note on Thursday, March 31. They have placed a “holding” rating on the stock.
Former Second Bancorp shares opened at $13.90 on Friday. Old Second Bancorp has a 52-week low of $11.16 and a 52-week high of $15.68. The company has a debt ratio of 0.32, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $618.01 million, a PE ratio of 23.17 and a beta of 1.10. The company’s 50-day simple moving average is $14.28 and its 200-day simple moving average is $14.01.
A number of hedge funds and other institutional investors have recently increased or reduced their holdings in OSBC. Forum Financial Management LP increased its holdings in Old Second Bancorp by 2,797.7% in the first quarter. Forum Financial Management LP now owns 2,812,351 shares of the financial services provider valued at $40,807,000 after buying an additional 2,715,296 shares last quarter. River Oaks Capital LLC acquired a new stake in Old Second Bancorp during the fourth quarter valued at approximately $1,322,000. Vanguard Group Inc. increased its holdings in Old Second Bancorp by 42.3% in the first quarter. Vanguard Group Inc. now owns 1,925,199 shares of the financial services provider valued at $27,934,000 after buying an additional 572,257 shares last quarter. EJF Capital LLC increased its holdings in Old Second Bancorp by 140.4% in the first quarter. EJF Capital LLC now owns 849,682 shares of the financial services provider valued at $12,329,000 after purchasing an additional 496,218 shares last quarter. Finally, Alliancebernstein LP increased its holdings in Old Second Bancorp by 309.3% during the fourth quarter. Alliancebernstein LP now owns 642,095 shares of the financial services provider valued at $8,084,000 after buying an additional 485,204 shares last quarter. 50.83% of the shares are currently held by institutional investors.
In related news, the director William B. Skoglund sold 4,557 shares of the company in a transaction dated Monday, April 11. The stock was sold at an average price of $14.20, for a total transaction of $64,709.40. As a result of the transaction, the administrator now directly owns 9,853 shares of the company, valued at $139,912.60. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Insiders hold 5.50% of the shares of the company.
The company also recently declared a quarterly dividend, which was paid on Monday, May 9. Investors of record on Friday, April 29 received a dividend of $0.05 per share. The ex-dividend date was Thursday, April 28. This represents an annualized dividend of $0.20 and a yield of 1.44%. Old Second Bancorp’s dividend payout ratio is 33.33%.
Old Second Bancorp Company Profile (Get a rating)
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank which provides community banking services. It provides current, NOW, money market, savings, term deposit, individual retirement and checking accounts, as well as certificates of deposit accounts. The company also offers commercial loans; finance lease receivables; commercial real estate loans; building loans; residential real estate loans, such as residential first and second mortgages; home equity line of credit; consumer loans, including auto, home improvement and signature loans; installment loans and agricultural loans; residential mortgages; and verification of overdrafts.
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