Old Second Bancorp (NASDAQ:OSBC) Issues Quarterly Earnings Results

Old Second Bancorp (NASDAQ:OSBC) released its quarterly earnings results on Wednesday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01), Yahoo Finance reports. Old Second Bancorp had a return on equity of 16.78% and a net margin of 26.90%. The firm had revenue of $83.83 million for the quarter, compared to the consensus estimate of $69.50 million.

Old Second Bancorp Trading Up 5.0 %

Shares of OSBC stock traded up $0.69 during trading hours on Friday, hitting $14.43. 232,046 shares of the company were exchanged, compared to its average volume of 175,783. The company has a 50 day simple moving average of $13.49 and a two-hundred day simple moving average of $14.17. Old Second Bancorp has a fifty-two week low of $10.79 and a fifty-two week high of $16.76. 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 firm has a market cap of $646.46 million, a P/E ratio of 7.11 and a beta of 1.10.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Friday, April 26th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend 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%.

Analyst Ratings Changes

Several research firms have issued reports on OSBC. Raymond James upgraded shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price target for the company in a report 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 report on Friday.

Institutional Trading of Old Second Bancorp

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in Old Second Bancorp by 0.6% in the 2nd quarter. BlackRock Inc. now owns 3,338,474 shares of the financial services provider’s stock valued at $43,600,000 after purchasing an additional 21,443 shares during the period. Vanguard Group Inc. grew its position in Old Second Bancorp by 5.2% in the 4th quarter. Vanguard Group Inc. now owns 2,378,028 shares of the financial services provider’s stock valued at $36,717,000 after purchasing an additional 117,431 shares during the period. State Street Corp grew its position in Old Second Bancorp by 3.6% in the 2nd quarter. State Street Corp now owns 1,124,787 shares of the financial services provider’s stock valued at $14,690,000 after purchasing an additional 39,018 shares during the period. The Manufacturers Life Insurance Company grew its position in Old Second Bancorp by 0.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,075,355 shares of the financial services provider’s stock valued at $15,603,000 after purchasing an additional 2,969 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Old Second Bancorp by 27.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,061,815 shares of the financial services provider’s stock valued at $17,031,000 after purchasing an additional 231,045 shares during the period. Institutional investors and hedge funds 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.