DA Davidson Comments on Old Second Bancorp, Inc.'s FY2023 Earnings (NASDAQ:OSBC)

Old Second Bancorp, Inc. (NASDAQ:OSBC – Free Report) – DA Davidson lowered their FY2023 EPS estimates for shares of Old Second Bancorp in a research note issued on Tuesday, June 27th. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings of $2.10 per share for the year, down from their prior estimate of $2.20. The consensus estimate for Old Second Bancorp’s current full-year earnings is $2.15 per share.

Other research analysts have also recently issued reports about the company. Raymond James lowered their price objective on Old Second Bancorp from $20.00 to $18.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 6th. StockNews.com raised shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 19th. Finally, Stephens reissued an “overweight” rating and set a $18.00 price target on shares of Old Second Bancorp in a report on Friday, April 21st. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Old Second Bancorp has an average rating of “Buy” and an average price target of $19.00.

Old Second Bancorp Stock Up 1.2 %

OSBC opened at $13.21 on Friday. The firm’s 50 day simple moving average is $12.55 and its two-hundred day simple moving average is $14.59. The company has a market capitalization of $590.09 million, a PE ratio of 7.59 and a beta of 1.09. Old Second Bancorp has a 1-year low of $10.79 and a 1-year high of $17.80. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.26.

Old Second Bancorp (NASDAQ:OSBC – Free Report) last released its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.02). The firm had revenue of $71.44 million for the quarter, compared to the consensus estimate of $74.40 million. Old Second Bancorp had a net margin of 28.18% and a return on equity of 17.58%.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 8th. Stockholders of record on Friday, April 28th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, April 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.51%. Old Second Bancorp’s payout ratio is 11.49%.

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors have recently made changes to their positions in the company. Bailard Inc. acquired a new stake in Old Second Bancorp during the fourth quarter valued at $358,000. Summit Global Investments purchased a new stake in shares of Old Second Bancorp in the third quarter valued at approximately $493,000. Swiss National Bank lifted its position in shares of Old Second Bancorp by 2.6% during the 4th quarter. Swiss National Bank now owns 86,000 shares of the financial services provider’s stock valued at $1,379,000 after buying an additional 2,200 shares in the last quarter. First Trust Advisors LP increased its holdings in Old Second Bancorp by 10.6% in the 4th quarter. First Trust Advisors LP now owns 132,840 shares of the financial services provider’s stock worth $2,131,000 after acquiring an additional 12,766 shares in the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of Old Second Bancorp in the fourth quarter worth approximately $161,000. 65.84% of the stock is owned by hedge funds and other institutional investors.

Old Second Bancorp Company Profile

(Free Report)

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.

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