Old Second Bancorp (NASDAQ:OSBC) Given New $22.00 Price Target at Stephens

Old Second Bancorp (NASDAQ:OSBC) had its target price upped by stock analysts at Stephens from $21.00 to $22.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 20.91% from the company’s current price.

Separately, Raymond James upgraded shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th.

Old Second Bancorp Stock Performance

OSBC stock opened at $18.20 on Wednesday. The firm has a market cap of $816.15 million, a price-to-earnings ratio of 9.66 and a beta of 1.07. Old Second Bancorp has a twelve month low of $13.00 and a twelve month high of $19.46. The business’s fifty day simple moving average is $18.29 and its two-hundred day simple moving average is $17.39. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. Analysts predict that Old Second Bancorp will post 1.86 earnings per share for the current year.

Insider Activity

In other news, Director Rocks Patti Temple purchased 5,625 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the completion of the transaction, the director now owns 18,679 shares in the company, valued at $332,299.41. This represents a 43.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Old Second Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP increased its stake in shares of Old Second Bancorp by 70.1% during the fourth quarter. Quarry LP now owns 2,363 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 974 shares in the last quarter. R Squared Ltd purchased a new stake in Old Second Bancorp in the 4th quarter valued at $96,000. Quantbot Technologies LP increased its stake in shares of Old Second Bancorp by 134.0% in the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 3,587 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Old Second Bancorp during the 3rd quarter worth $101,000. Finally, Aquatic Capital Management LLC raised its holdings in shares of Old Second Bancorp by 47.3% during the 4th quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 2,556 shares during the period. Hedge funds and other institutional investors 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.