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Old Second Bancorp (NASDAQ:OSBC), a prominent bank holding company for Old Second National Bank, has recently garnered attention in the financial world due to its fluctuating stock prices and analyst ratings. On July 24, 2023, the company’s stock opened at $15.56 on the NASDAQ exchange.
Old Second Bancorp has experienced both highs and lows over the past year. Its twelve-month low was recorded at $10.79, while its twelve-month high reached $17.80. These extreme fluctuations indicate the volatility of the market and highlight the need for investors to closely monitor their investments.
The company currently holds a market capitalization of $695.07 million, making it a mid-sized player in the banking industry. It boasts a price-to-earnings ratio (P/E ratio) of 7.67, which indicates that investors are willing to pay 7.67 times the earnings per share for Old Second Bancorp stocks. This relatively low P/E ratio might signify that the market has undervalued the company’s potential.
Furthermore, Old Second Bancorp possesses a beta of 1.10, suggesting that it is slightly more volatile than the overall market index. The stock’s fifty-day simple moving average stands at $13.17, while its 200-day simple moving average rests at $14.27. The disparity between these averages implies an ongoing fluctuation in stock prices.
Examining Old Second Bancorp’s financial health ratios reveals some interesting insights into its liquidity and leverage positions within the banking sector. The company has a current ratio of 0.77, indicating its ability to meet short-term obligations might be somewhat constrained as it possesses only $0.77 in current assets for every dollar of current liabilities. Additionally, its quick ratio matches this same value, further highlighting a potential liquidity concern.
However, it is essential to note that Old Second Bancorp maintains a relatively conservative debt-to-equity ratio of 0.26, meaning it has a lower reliance on borrowed funds compared to other companies in the industry. This leverage ratio indicates that the company primarily utilizes its shareholders’ equity to finance its operations and exhibits a more stable financial structure.
Numerous analysts have recently evaluated Old Second Bancorp’s performance and provided their recommendations for potential investors. Piper Sandler increased the stock’s target price from $17.00 to $19.00, affording it an “overweight” rating. StockNews.com upgraded the company from a “sell” rating to a “hold” rating, presenting a more positive outlook for its future prospects.
Stephens reconfirmed an “overweight” rating and set a $18.00 target price on Old Second Bancorp shares, further validating the optimism surrounding the company’s potential growth. Raymond James also raised its target price from $17.00 to $19.00 and labeled the stock as a “strong-buy,” indicating their belief in its strength in the market.
Overall, analysts exhibit mixed opinions regarding Old Second Bancorp’s stock. While one analyst maintains a hold rating, three analysts recommend buying the stock, and another strongly recommends purchasing it. Bloomberg Data indicates that based on these recommendations, there is currently a consensus among analysts that Old Second Bancorp is a suitable investment option with an average target price of $18.67.
Old Second Bancorp primarily operates through its subsidiary, Old Second National Bank, providing community banking services to its clientele. The range of services offered includes various types of accounts such as demand deposit accounts (DDS), money market accounts (MMA), savings accounts, time deposit accounts (TDA), individual retirement accounts (IRA), and checking accounts.
In addition to standard banking services, Old Second Bancorp extends commercial loans to businesses across different sectors while also offering lease financing receivables and commercial real estate loans for aspiring entrepreneurs. The company provides construction loans, residential real estate loans, and home equity lines of credit to meet the diverse needs of its customers.
Old Second Bancorp also caters to personal loan requirements by offering consumer loans, including but not limited to motor vehicle loans, home improvement loans, and signature loans. Moreover, it provides installment and agricultural loans, further diversifying its loan portfolio to address a wide range of borrowing needs.
The company’s presence within the residential mortgage market is marked with residential first mortgage and second mortgage lending options for individuals looking to purchase or refinance their homes. Additionally, overdraft checking services are available to help customers manage unexpected expenses or temporary financial shortfalls.
As of July 24, 2023, Old Second Bancorp stands as an intriguing investment option with several factors worthy of consideration. While its stock prices have experienced fluctuations in recent months and analysts’ opinions vary regarding its performance, the company’s strong market presence coupled with its diverse range of banking services indicate potential for growth in the future.
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Old Second Bancorp, Inc. Shows Strong Q3 Earnings Estimates and Institutional Investor Interest
Old Second Bancorp, Inc. (NASDAQ:OSBC) has recently been in the spotlight as research analysts at DA Davidson issued their Q3 2023 earnings estimates for the financial services provider. According to analyst J. Rulis, Old Second Bancorp is expected to post earnings of $0.54 per share for the quarter.
Old Second Bancorp, Inc. operates as the bank holding company for Old Second National Bank, which offers a range of community banking services. These include various types of accounts such as demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts. In addition to this, they also provide certificates of deposit accounts.
The company’s services extend beyond basic banking and cover commercial loans, lease financing receivables, commercial real estate loans, construction loans, and residential real estate loans including first and second mortgage loans. They also offer home equity lines of credit as well as consumer loans like motor vehicle loans, home improvement loans, signature loans along with installment and agricultural loans. Furthermore, they provide residential mortgages and overdraft checking facilities.
In terms of their institutional investors and hedge funds portfolio shifts pertaining to OSBC stock recently; Vanguard Group Inc., one of the leading asset management firms raised its holdings in shares of Old Second Bancorp by an impressive 42.3% in the first quarter alone. This increase translated into owning 1,925,199 shares valued at approximately $27.9 million after acquiring an additional 572,257 shares during this period. Similarly EJF Capital LLC boosted their stakes by a remarkable 140.4%, they now own 849,&82 shares worth roughly $12.& million after acquiring an additional 496,&18 shares.
State Street Corp achieved a growth in their stake by a whopping 72.% in the second quarter accumulating ownership of around 1,&81,&89 shares priced at $13.& million following an acquisition of 420,&15 shares. Another notable institutional investor, JPMorgan Chase & Co., recorded growth in their stake by an impressive 201.6% during the same quarter consequently acquiring 403,226 shares worth approximately $5.! million. Lastly, BlackRock Inc., a multinational investment management corporation saw a marginal but still noteworthy increase of 9% in their stake during the first quarter which now stands at 2,173,725 shares valued at $31.& million.
Taking a deeper look into Old Second Bancorp’s financial operations’, they have recently announced a quarterly dividend which is expected to be paid on Monday, August th.. Investors of record on Friday, July 28th will be issued a dividend payment of $0.05 per share. However, it is important to note that the ex-dividend date for this particular dividend is set on Thursday, July 27th. The company’s payout ratio currently stands at % indicating that they pay out approximately .85% annually.
In conclusion, Old Second Bancorp continues to be an active player in the financial services industry offering a wide range of banking services and products to its customers. With positive earnings estimates for Q3 in place and notable changes among their institutional investors and hedge funds portfolios as well as their consistent dividend payments; it will be interesting to see how the company performs moving forward. Investors and analysts alike will surely keep a close eye on the developments of Old Second Bancorp as we move through the year of July 24, 2023.
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