Old Second Bancorp (NASDAQ:OSBC) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Old Second Bancorp (NASDAQ:OSBC) posted its quarterly earnings results on Thursday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01), Yahoo Finance reports. Old Second Bancorp had a return on equity of 16.78% and a net margin of 26.90%. The firm had revenue of $83.83 million for the quarter, compared to analysts’ expectations of $69.50 million.

Old Second Bancorp Stock Performance

OSBC opened at $14.43 on Friday. The stock’s 50 day simple moving average is $13.51 and its 200 day simple moving average is $14.17. The stock has a market cap of $646.46 million, a P/E ratio of 7.32 and a beta of 1.10. Old Second Bancorp has a 1-year low of $10.79 and a 1-year high of $16.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, April 25th. Old Second Bancorp’s dividend payout ratio (DPR) is 10.15%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OSBC. Raymond James raised Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 target price for the company in a research note on Thursday, April 4th. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Old Second Bancorp in a research report on Friday.

Institutional Trading of Old Second Bancorp

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Old Second Bancorp by 42.3% during the 1st quarter. Vanguard Group Inc. now owns 1,925,199 shares of the financial services provider’s stock worth $27,934,000 after buying an additional 572,257 shares during the last quarter. EJF Capital LLC lifted its holdings in shares of Old Second Bancorp by 140.4% in the first quarter. EJF Capital LLC now owns 849,682 shares of the financial services provider’s stock valued at $12,329,000 after purchasing an additional 496,218 shares in the last quarter. State Street Corp grew its position in shares of Old Second Bancorp by 72.3% in the second quarter. State Street Corp now owns 1,001,589 shares of the financial services provider’s stock valued at $13,401,000 after purchasing an additional 420,215 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Old Second Bancorp by 201.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 403,226 shares of the financial services provider’s stock worth $5,395,000 after purchasing an additional 269,533 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Old Second Bancorp by 81.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 454,054 shares of the financial services provider’s stock worth $5,930,000 after purchasing an additional 203,495 shares during the last quarter. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

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.