Former second Bancorp, Inc. (NASDAQ: OSBC – Get a rating) – DA Davidson analysts raised their FY2022 EPS estimates for Old Second Bancorp in a research note released Monday, May 2. DA Davidson analyst Navas now expects the financial services provider to post earnings per share of $1.65 for the year, up from its previous forecast of $1.30. DA Davidson has a “Buy” rating and a price target of $22.00 on the stock.
Other research analysts have also recently published research reports on the company. Zacks Investment Research upgraded Old Second Bancorp from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research note on Saturday, April 2. StockNews.com launched a hedge on shares of Old Second Bancorp in a Thursday, March 31 report. They have placed a “holding” rating on the stock.
OSBC Action opened at $14.38 on Wednesday. The company has a debt ratio of 0.30, a quick ratio of 0.75 and a current ratio of 0.75. The company has a 50-day moving average price of $14.26 and a 200-day moving average price of $13.68. Old Second Bancorp has a 52-week low of $11.16 and a 52-week high of $15.48. The company has a market capitalization of $639.33 million, a price-earnings ratio of 23.97 and a beta of 1.11.
Hedge funds have recently increased or reduced their stakes in the company. Choreo LLC bought a new position in Old Second Bancorp during the first quarter worth approximately $218,000. Comerica Bank increased its position in shares of Old Second Bancorp by 76.9% during the 1st quarter. Comerica Bank now owns 90,306 shares of the financial services provider valued at $1,344,000 after buying 39,257 additional shares last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Old Second Bancorp in Q1 worth approximately $169,000. Tsfg LLC purchased a new stake in shares of Old Second Bancorp in Q1 for approximately $80,000. Finally, Assenagon Asset Management SA increased its holdings of Old Second Bancorp shares by 248.3% in the first quarter. Assenagon Asset Management SA now owns 213,576 shares of the financial services provider worth $3,099,000 after purchasing an additional 152,256 shares in the last quarter. 50.83% of the shares are currently held by hedge funds and other institutional investors.
In other news, Director William B. Skoglund sold 4,557 shares of the company in a transaction dated Monday, March 14. The shares were sold at an average price of $14.46, for a total transaction of $65,894.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. In the past three months, insiders have sold 13,671 shares of the company worth $195,814. 5.50% of the shares are held by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 9. Shareholders of record on Friday, April 29 will receive a dividend of $0.05. The ex-date of this dividend is Thursday, April 28. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 1.39%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 33.33%.
About Old Second Bancorp (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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