Old Second Bancorp (NASDAQ:OSBC) Downgraded by DA Davidson

DA Davidson cut shares of Old Second Bancorp (NASDAQ:OSBC) from a buy rating to a neutral rating in a research report report published on Wednesday, Marketbeat Ratings reports. The firm currently has $17.00 price target on the financial services provider’s stock, down from their prior price target of $19.00. DA Davidson also issued estimates for Old Second Bancorp’s Q3 2024 earnings at $0.46 EPS, FY2024 earnings at $1.85 EPS and FY2025 earnings at $1.70 EPS.

Several other equities analysts have also issued reports on OSBC. Raymond James lowered shares of Old Second Bancorp from a strong-buy rating to an outperform rating and cut their price target for the stock from $19.00 to $18.00 in a report on Tuesday, September 17th. Piper Sandler upped their target price on Old Second Bancorp from $18.00 to $19.50 and gave the company an overweight rating in a research report on Friday, July 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Old Second Bancorp currently has an average rating of Moderate Buy and an average price target of $17.88.

Old Second Bancorp Trading Up 0.3 %

OSBC opened at $15.42 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm has a market cap of $691.53 million, a price-to-earnings ratio of 7.83 and a beta of 1.07. Old Second Bancorp has a 12 month low of $13.00 and a 12 month high of $17.46. The stock has a fifty day moving average price of $16.31 and a 200-day moving average price of $14.92.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Old Second Bancorp had a net margin of 25.62% and a return on equity of 14.83%. The firm had revenue of $70.82 million during the quarter, compared to the consensus estimate of $70.03 million. As a group, equities research analysts anticipate that Old Second Bancorp will post 1.91 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 26th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Friday, July 26th. Old Second Bancorp’s dividend payout ratio (DPR) is presently 10.15%.

Insider Buying and Selling

In other news, Director John Ladowicz sold 30,585 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $16.22, for a total value of $496,088.70. Following the transaction, the director now directly owns 189,192 shares of the company’s stock, valued at $3,068,694.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Old Second Bancorp

Large investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in Old Second Bancorp in the second quarter valued at $33,000. Innealta Capital LLC acquired a new stake in Old Second Bancorp during the second quarter worth about $49,000. Ameritas Investment Partners Inc. raised its position in Old Second Bancorp by 19.8% during the first quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 853 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Old Second Bancorp in the 1st quarter worth approximately $90,000. Finally, PL Capital Advisors LLC acquired a new stake in shares of Old Second Bancorp during the 1st quarter worth approximately $111,000. 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.