DA Davidson Equities Analysts Reduce Earnings Estimates for Old Second Bancorp, Inc. (NASDAQ:OSBC)

Old Second Bancorp, Inc. (NASDAQ:OSBC) – Research analysts at DA Davidson cut their Q3 2024 EPS estimates for Old Second Bancorp in a research note issued on Thursday, September 26th. DA Davidson analyst J. Rulis now anticipates that the financial services provider will post earnings of $0.46 per share for the quarter, down from their previous forecast of $0.47. DA Davidson has a “Neutral” rating and a $17.00 price objective on the stock. The consensus estimate for Old Second Bancorp’s current full-year earnings is $1.91 per share. DA Davidson also issued estimates for Old Second Bancorp’s FY2024 earnings at $1.85 EPS and FY2025 earnings at $1.70 EPS.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old Second Bancorp had a return on equity of 14.83% and a net margin of 25.62%. The business had revenue of $70.82 million for the quarter, compared to analyst estimates of $70.03 million.

A number of other analysts also recently issued reports on OSBC. Piper Sandler raised their price objective on shares of Old Second Bancorp from $18.00 to $19.50 and gave the stock an “overweight” rating in a report on Friday, July 19th. Raymond James downgraded Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $19.00 to $18.00 in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.88.

Old Second Bancorp Stock Up 0.3 %

OSBC opened at $15.42 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $691.53 million, a P/E ratio of 7.83 and a beta of 1.07. Old Second Bancorp has a fifty-two week low of $13.00 and a fifty-two week high of $17.46. The company’s 50-day moving average is $16.31 and its 200 day moving average is $14.92.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. nVerses Capital LLC purchased a new position in Old Second Bancorp during the 2nd quarter valued at $33,000. Innealta Capital LLC purchased a new stake in Old Second Bancorp in the second quarter worth about $49,000. Ameritas Investment Partners Inc. boosted its position in Old Second Bancorp by 19.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 853 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Old Second Bancorp during the 1st quarter worth approximately $90,000. Finally, PL Capital Advisors LLC bought a new position in Old Second Bancorp in the first quarter worth $111,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Insider Activity at Old Second Bancorp

In other news, Director John Ladowicz sold 30,585 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $16.22, for a total value of $496,088.70. Following the completion of the sale, the director now owns 189,192 shares of the company’s stock, valued at approximately $3,068,694.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is currently owned by insiders.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 26th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $0.20 annualized dividend and a dividend yield of 1.30%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 10.15%.

About Old Second Bancorp

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.