Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Old Second Bancorp (NASDAQ:OSBC) Stock

Old Second Bancorp (NASDAQ:OSBC) had its target price increased by research analysts at Keefe, Bruyette & Woods from $22.00 to $24.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 32.30% from the company’s previous close.

OSBC has been the topic of several other research reports. Raymond James upgraded shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Stephens raised their price objective on shares of Old Second Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $20.90.

Old Second Bancorp Stock Performance

NASDAQ OSBC opened at $18.14 on Thursday. Old Second Bancorp has a 1 year low of $13.00 and a 1 year high of $19.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $813.63 million, a PE ratio of 9.70 and a beta of 1.07. The company’s 50 day simple moving average is $18.31 and its two-hundred day simple moving average is $17.42.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. Analysts predict that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Old Second Bancorp news, Director Rocks Patti Temple bought 5,625 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the transaction, the director now directly owns 18,679 shares in the company, valued at $332,299.41. This trade represents a 43.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Second Bancorp

A number of large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Old Second Bancorp by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 843 shares during the last quarter. Quarry LP grew its holdings in Old Second Bancorp by 70.1% in the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 974 shares during the last quarter. Princeton Capital Management LLC grew its holdings in Old Second Bancorp by 7.8% in the 3rd quarter. Princeton Capital Management LLC now owns 13,770 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 1,000 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of Old Second Bancorp by 20.2% during the 4th quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 1,264 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Old Second Bancorp by 1.8% during the 4th quarter. Invesco Ltd. now owns 77,897 shares of the financial services provider’s stock valued at $1,385,000 after purchasing an additional 1,348 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

About Old Second Bancorp

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.