$27.35 Million in Sales Expected for Old Second Bancorp, Inc. (OSBC) This Quarter

Wall Street analysts predict that Old Second Bancorp, Inc. (NASDAQ:OSBC) will report sales of $27.35 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Old Second Bancorp’s earnings. The highest sales estimate is $27.40 million and the lowest is $27.30 million. Old Second Bancorp reported sales of $21.94 million during the same quarter last year, which indicates a positive year-over-year growth rate of 24.7%. The firm is scheduled to issue its next earnings report on Tuesday, November 28th.

According to Zacks, 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 anticipate that the company will report sales of $115.10 million per share, with estimates ranging from $111.60 million to $118.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. Old Second Bancorp had a return on equity of 12.34% and a net margin of 19.91%.

A number of analysts have commented on the company. Zacks Investment Research raised Old Second Bancorp from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a report on Wednesday, October 25th. BidaskClub downgraded Old Second Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. DA Davidson started coverage on Old Second Bancorp in a research note on Friday, September 1st. They issued a “neutral” rating and a $13.00 target price on the stock. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $11.50 price objective on shares of Old Second Bancorp in a research note on Tuesday, October 3rd. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $13.50.

In related news, Director John Ladowicz sold 10,096 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $14.40, for a total value of $145,382.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William B. Skoglund sold 5,450 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $12.15, for a total value of $66,217.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,346 shares of company stock worth $623,302. Company insiders own 3.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Chicago Equity Partners LLC boosted its holdings in shares of Old Second Bancorp by 0.5% during the second quarter. Chicago Equity Partners LLC now owns 54,200 shares of the financial services provider’s stock worth $626,000 after purchasing an additional 265 shares during the period. Rhumbline Advisers increased its stake in shares of Old Second Bancorp by 2.2% during the second quarter. Rhumbline Advisers now owns 34,251 shares of the financial services provider’s stock valued at $396,000 after purchasing an additional 725 shares in the last quarter. American International Group Inc. increased its stake in shares of Old Second Bancorp by 7.1% during the first quarter. American International Group Inc. now owns 17,704 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 1,175 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Old Second Bancorp by 8.7% during the second quarter. Voya Investment Management LLC now owns 24,645 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 1,965 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Old Second Bancorp by 6.6% during the first quarter. Parametric Portfolio Associates LLC now owns 36,958 shares of the financial services provider’s stock valued at $416,000 after acquiring an additional 2,280 shares in the last quarter. Institutional investors own 67.28% of the company’s stock.

Shares of Old Second Bancorp (NASDAQ OSBC) traded down $0.10 during trading on Thursday, reaching $13.10. The company had a trading volume of 29,500 shares, compared to its average volume of 84,889. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $391.08, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 2.33 and a beta of 1.34. Old Second Bancorp has a twelve month low of $8.55 and a twelve month high of $14.90.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 6th. Investors of record on Friday, October 27th were paid a $0.01 dividend. The ex-dividend date was Thursday, October 26th. This represents a $0.04 annualized dividend and a yield of 0.31%. Old Second Bancorp’s payout ratio is 6.45%.

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About Old Second Bancorp

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