Old Second Bancorp (NASDAQ:OSBC) Upgraded at Raymond James

Raymond James upgraded shares of Old Second Bancorp (NASDAQ:OSBC) from a moderate buy rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

OSBC has been the subject of several other research reports. DA Davidson set a $18.00 target price on Old Second Bancorp in a research report on Thursday, October 17th. Piper Sandler lifted their price objective on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a report on Friday, October 18th.

Old Second Bancorp Trading Up 2.2 %

Shares of Old Second Bancorp stock opened at $17.66 on Thursday. Old Second Bancorp has a 52-week low of $13.00 and a 52-week high of $19.37. The firm has a market capitalization of $792.10 million, a PE ratio of 9.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company’s fifty day moving average price is $17.76 and its two-hundred day moving average price is $16.33.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $71.16 million for the quarter, compared to analysts’ expectations of $70.95 million. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. On average, analysts expect that Old Second Bancorp will post 1.95 EPS for the current year.

Old Second Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.36%. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, October 25th. Old Second Bancorp’s dividend payout ratio (DPR) is currently 12.97%.

Hedge Funds Weigh In On Old Second Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of OSBC. Princeton Capital Management LLC increased its stake in shares of Old Second Bancorp by 7.8% in the third quarter. Princeton Capital Management LLC now owns 13,770 shares of the financial services provider’s stock valued at $215,000 after buying an additional 1,000 shares in the last quarter. Lakewood Asset Management LLC increased its position in Old Second Bancorp by 8.8% in the 3rd quarter. Lakewood Asset Management LLC now owns 19,951 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 1,612 shares in the last quarter. Hunter Perkins Capital Management LLC increased its position in Old Second Bancorp by 3.7% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 52,955 shares of the financial services provider’s stock valued at $826,000 after acquiring an additional 1,870 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Old Second Bancorp by 2.7% in the second quarter. Rhumbline Advisers now owns 73,155 shares of the financial services provider’s stock worth $1,083,000 after acquiring an additional 1,923 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Old Second Bancorp by 36.3% during the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 2,123 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

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.