Raymond James Increases Old Second Bancorp (NASDAQ:OSBC) Price Target to $19.00

Old Second Bancorp (NASDAQ:OSBC – Get Free Report) had its price objective hoisted by analysts at Raymond James from $17.00 to $19.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a “strong-buy” rating on the financial services provider’s stock. Raymond James’ price target would indicate a potential upside of 24.51% from the stock’s current price.

A number of other brokerages have also recently commented on OSBC. Piper Sandler raised their price objective on shares of Old Second Bancorp from $17.00 to $19.00 in a research note on Friday. Stephens reissued an “overweight” rating and set a $18.00 target price on shares of Old Second Bancorp in a research note on Thursday. Finally, StockNews.com upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 19th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $18.67.

Old Second Bancorp Stock Performance

Shares of NASDAQ:OSBC opened at $15.26 on Friday. Old Second Bancorp has a 52 week low of $10.79 and a 52 week high of $17.80. The firm has a 50 day moving average of $13.08 and a 200 day moving average of $14.30. The company has a market capitalization of $681.66 million, a price-to-earnings ratio of 8.77 and a beta of 1.10. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.26.

Old Second Bancorp (NASDAQ:OSBC – Get Free Report) last posted 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). Old Second Bancorp had a return on equity of 17.58% and a net margin of 28.18%. The company had revenue of $71.44 million during the quarter, compared to analysts’ expectations of $74.40 million. On average, sell-side analysts predict that Old Second Bancorp will post 2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Old Second Bancorp

A number of hedge funds have recently modified their holdings of the business. Dorsey Wright & Associates purchased a new stake in Old Second Bancorp during the 4th quarter valued at about $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Old Second Bancorp in the 2nd quarter worth $48,000. Tower Research Capital LLC TRC raised its holdings in shares of Old Second Bancorp by 281.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,033 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 5,925 shares during the period. UBS Group AG boosted its position in shares of Old Second Bancorp by 140.8% during the 2nd quarter. UBS Group AG now owns 11,068 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 6,471 shares during the last quarter. Finally, Arizona State Retirement System purchased a new stake in shares of Old Second Bancorp in the fourth quarter valued at about $161,000. 65.84% of the stock is currently owned by institutional investors and hedge funds.

Old Second Bancorp Company Profile

(Get 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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