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

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

Old Second Bancorp Trading Up 5.0 %

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

Old Second Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Old Second Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Old Second Bancorp in the 2nd quarter valued at approximately $48,000. Tower Research Capital LLC TRC grew its position in Old Second Bancorp by 281.1% in the third quarter. Tower Research Capital LLC TRC now owns 8,033 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 5,925 shares during the period. UBS Group AG grew its position in Old Second Bancorp by 140.8% in the second quarter. UBS Group AG now owns 11,068 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 6,471 shares during the period. LPL Financial LLC acquired a new stake in Old Second Bancorp during the second quarter worth $161,000. Finally, State of Wyoming raised its position in Old Second Bancorp by 190.3% in the fourth quarter. State of Wyoming now owns 10,144 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 6,650 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

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.