Equities analysts expect Old Second Bancorp, Inc. (NASDAQ:OSBC) to report sales of $27.35 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Old Second Bancorp’s earnings, with estimates ranging from $27.30 million to $27.40 million. Old Second Bancorp posted sales of $21.94 million during the same quarter last year, which suggests a positive year over year growth rate of 24.7%. The business is scheduled to report its next quarterly earnings results on Tuesday, November 14th.
On average, analysts expect that Old Second Bancorp will report full year sales of $27.35 million for the current year, with estimates ranging from $105.60 million to $109.20 million. For the next year, analysts expect that the company will post sales of $115.10 million per share, with estimates ranging from $111.60 million to $118.60 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Old Second Bancorp.
Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.19 by $0.08. Old Second Bancorp had a net margin of 16.82% and a return on equity of 10.30%.
Several research analysts have commented on OSBC shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $11.00 target price on shares of Old Second Bancorp in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Old Second Bancorp from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Wednesday, August 2nd. BidaskClub raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Finally, DA Davidson initiated coverage on shares of Old Second Bancorp in a research report on Friday, September 1st. They issued a “neutral” rating and a $13.00 price target for the company. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $13.50.
In related news, CEO William B. Skoglund sold 3,850 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $12.13, for a total transaction of $46,700.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward Bonifas acquired 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were acquired at an average cost of $11.58 per share, for a total transaction of $34,740.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 5,550 shares of company stock worth $62,594 and have sold 58,946 shares worth $737,610. 3.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Boston Partners raised its position in Old Second Bancorp by 52.8% during the third quarter. Boston Partners now owns 563,600 shares of the financial services provider’s stock valued at $7,580,000 after acquiring an additional 194,800 shares in the last quarter. Prudential Financial Inc. raised its position in Old Second Bancorp by 27.7% during the third quarter. Prudential Financial Inc. now owns 39,650 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 8,610 shares in the last quarter. Adams Diversified Equity Fund Inc. bought a new position in Old Second Bancorp during the third quarter valued at approximately $1,135,000. First Quadrant L P CA bought a new position in Old Second Bancorp during the third quarter valued at approximately $339,000. Finally, First Trust Advisors LP raised its position in Old Second Bancorp by 32.0% during the third quarter. First Trust Advisors LP now owns 61,170 shares of the financial services provider’s stock valued at $823,000 after acquiring an additional 14,815 shares in the last quarter. 65.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Old Second Bancorp (NASDAQ:OSBC) traded down $0.20 on Thursday, hitting $13.60. 51,215 shares of the company’s stock traded hands, compared to its average volume of 73,372. Old Second Bancorp has a one year low of $7.70 and a one year high of $14.90. The firm has a market capitalization of $402.93, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.40 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.78.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Friday, October 27th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.29%. The ex-dividend date is Thursday, October 26th. Old Second Bancorp’s payout ratio is presently 6.45%.
About Old Second Bancorp
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