Old Second Bancorp (NASDAQ:OSBC) Releases Earnings Results, Misses Estimates By $0.04 EPS

Old Second Bancorp (NASDAQ:OSBC) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04), Zacks reports. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%.

Old Second Bancorp Price Performance

OSBC stock traded up $0.03 during trading on Wednesday, hitting $18.68. 453,750 shares of the stock traded hands, compared to its average volume of 255,465. Old Second Bancorp has a one year low of $13.00 and a one year high of $19.37. The stock has a market cap of $837.80 million, a price-to-earnings ratio of 10.10 and a beta of 1.08. The company has a 50 day simple moving average of $18.19 and a 200 day simple moving average of $16.93. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

Insider Activity at Old Second Bancorp

In other Old Second Bancorp news, Director Rocks Patti Temple purchased 5,625 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $17.79 per share, with a total value of $100,068.75. Following the completion of the purchase, the director now directly owns 18,679 shares in the company, valued at approximately $332,299.41. This represents a 43.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

OSBC has been the topic of a number of research analyst reports. DA Davidson set a $18.00 target price on Old Second Bancorp in a report on Thursday, October 17th. Raymond James upgraded shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Piper Sandler lifted their target price on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a report on Friday, October 18th.

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.