Old Second Bancorp, Inc. Forecasted to Post Q3 2023 Earnings of $0.54 Per Share (NASDAQ:OSBC)

Old Second Bancorp, Inc. (NASDAQ:OSBC – Free Report) – Research analysts at DA Davidson issued their Q3 2023 earnings estimates for Old Second Bancorp in a report issued on Friday, July 21st. DA Davidson analyst J. Rulis expects that the financial services provider will post earnings of $0.54 per share for the quarter. The consensus estimate for Old Second Bancorp’s current full-year earnings is $2.13 per share.

Several other analysts also recently weighed in on the company. Piper Sandler lifted their target price on Old Second Bancorp from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday. StockNews.com upgraded Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 19th. Stephens reiterated an “overweight” rating and set a $18.00 target price on shares of Old Second Bancorp in a research report on Thursday. Finally, Raymond James lifted their target price on Old Second Bancorp from $17.00 to $19.00 and gave the stock a “strong-buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $18.67.

Old Second Bancorp Stock Up 2.0 %

NASDAQ:OSBC opened at $15.56 on Monday. Old Second Bancorp has a twelve month low of $10.79 and a twelve month high of $17.80. The company has a market cap of $695.07 million, a price-to-earnings ratio of 7.67 and a beta of 1.10. The stock has a fifty day simple moving average of $13.17 and a 200-day simple moving average of $14.27. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.26.

Institutional Trading of Old Second Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in OSBC. Vanguard Group Inc. raised its holdings in shares of Old Second Bancorp by 42.3% in the first quarter. Vanguard Group Inc. now owns 1,925,199 shares of the financial services provider’s stock valued at $27,934,000 after acquiring an additional 572,257 shares in the last quarter. EJF Capital LLC raised its holdings in shares of Old Second Bancorp by 140.4% in the first quarter. EJF Capital LLC now owns 849,682 shares of the financial services provider’s stock valued at $12,329,000 after acquiring an additional 496,218 shares in the last quarter. State Street Corp grew its stake in Old Second Bancorp by 72.3% in the second quarter. State Street Corp now owns 1,001,589 shares of the financial services provider’s stock valued at $13,401,000 after purchasing an additional 420,215 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Old Second Bancorp by 201.6% in the second quarter. JPMorgan Chase & Co. now owns 403,226 shares of the financial services provider’s stock valued at $5,395,000 after purchasing an additional 269,533 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Old Second Bancorp by 9.0% in the first quarter. BlackRock Inc. now owns 2,173,725 shares of the financial services provider’s stock valued at $31,541,000 after purchasing an additional 179,424 shares during the last quarter. 65.84% of the stock is currently owned by institutional investors.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 7th. Investors of record on Friday, July 28th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.29%. Old Second Bancorp’s payout ratio is currently 9.85%.

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.

Read More

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Old Second Bancorp, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Old Second Bancorp wasn’t on the list.

While Old Second Bancorp currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report