Keefe, Bruyette & Woods Increases Old Second Bancorp (NASDAQ:OSBC) Price Target to $24.00

Old Second Bancorp (NASDAQ:OSBC) had its target price boosted by Keefe, Bruyette & Woods from $22.00 to $24.00 in a research report report published on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

OSBC has been the topic of a number of other reports. Stephens raised their target price on shares of Old Second Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday. Raymond James raised shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. One research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $20.90.

Old Second Bancorp Price Performance

NASDAQ:OSBC opened at $18.17 on Thursday. Old Second Bancorp has a 52 week low of $13.00 and a 52 week high of $19.46. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $814.98 million, a PE ratio of 9.72 and a beta of 1.07. The stock’s 50-day moving average price is $18.31 and its 200-day moving average price is $17.42.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share 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%. As a group, equities analysts expect that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 31st were issued a dividend of $0.06 per share. The ex-dividend date was Friday, January 31st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.32%. Old Second Bancorp’s dividend payout ratio is currently 12.83%.

Insider Transactions at Old Second Bancorp

In other news, Director Rocks Patti Temple purchased 5,625 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the acquisition, the director now directly owns 18,679 shares of the company’s stock, valued at approximately $332,299.41. This represents a 43.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Trading of Old Second Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP increased its holdings in shares of Old Second Bancorp by 70.1% during the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider’s stock worth $42,000 after buying an additional 974 shares during the last quarter. R Squared Ltd acquired a new stake in Old Second Bancorp in the 4th quarter valued at approximately $96,000. Quantbot Technologies LP increased its holdings in 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 valued at $98,000 after purchasing an additional 3,587 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Old Second Bancorp in the 3rd quarter valued at approximately $101,000. Finally, Aquatic Capital Management LLC increased its holdings in Old Second Bancorp by 47.3% in the 4th quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 2,556 shares during 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.