Old Second Bancorp Inc. (OSBC) Receives $13.00 Average Target Price from Analysts
Shares of Old Second Bancorp Inc. (NASDAQ:OSBC) have been given a consensus rating of “Hold” by the six research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $15.50.
OSBC has been the subject of several recent analyst reports. Zacks Investment Research downgraded Old Second Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 3rd. BidaskClub downgraded Old Second Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. Finally, ValuEngine downgraded Old Second Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th.
Shares of OSBC stock traded down $0.15 on Monday, hitting $15.40. 329,754 shares of the company’s stock were exchanged, compared to its average volume of 84,408. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.50. Old Second Bancorp has a 12 month low of $10.75 and a 12 month high of $16.30. The company has a market cap of $453.64 million, a P/E ratio of 19.01, a P/E/G ratio of 1.97 and a beta of 0.69.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 6th. Investors of record on Friday, July 27th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, July 26th. This represents a $0.04 annualized dividend and a dividend yield of 0.26%. Old Second Bancorp’s dividend payout ratio is currently 4.94%.
Hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. lifted its position in shares of Old Second Bancorp by 10.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 63,226 shares of the financial services provider’s stock worth $864,000 after buying an additional 6,002 shares during the last quarter. California Public Employees Retirement System raised its position in Old Second Bancorp by 12.1% in the fourth quarter. California Public Employees Retirement System now owns 98,656 shares of the financial services provider’s stock valued at $1,347,000 after purchasing an additional 10,659 shares during the last quarter. Boston Partners raised its position in Old Second Bancorp by 2.0% in the first quarter. Boston Partners now owns 574,800 shares of the financial services provider’s stock valued at $7,990,000 after purchasing an additional 11,200 shares during the last quarter. BlackRock Inc. raised its position in Old Second Bancorp by 1.5% in the fourth quarter. BlackRock Inc. now owns 1,940,774 shares of the financial services provider’s stock valued at $26,492,000 after purchasing an additional 28,031 shares during the last quarter. Finally, Millennium Management LLC raised its position in Old Second Bancorp by 34.9% in the fourth quarter. Millennium Management LLC now owns 330,778 shares of the financial services provider’s stock valued at $4,515,000 after purchasing an additional 85,576 shares during the last quarter. Institutional investors and hedge funds own 69.05% of the company’s stock.
Old Second Bancorp Company Profile
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank that provides a range of banking services. The company accepts demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers revolving lines of credit for working capital; lending for capital expenditures on manufacturing equipment; lending to small business manufactures, service companies, medical and dental entities, and specialty contractors; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage loans, second mortgage loans, and home equity line of credit mortgages; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans, as well as student loans; and overdraft checking.
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