Old Second Bancorp (NASDAQ:OSBC) Raised to “Strong-Buy” at Raymond James

Old Second Bancorp (NASDAQ:OSBCGet Free Report) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a $17.00 price target on the financial services provider’s stock. Raymond James’ price objective indicates a potential upside of 27.82% from the company’s current price.

Old Second Bancorp Stock Down 1.1 %

OSBC opened at $13.30 on Thursday. Old Second Bancorp has a one year low of $10.79 and a one year high of $16.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s fifty day moving average is $13.54 and its 200-day moving average is $14.17. The company has a market capitalization of $595.84 million, a PE ratio of 6.58 and a beta of 1.10.

Old Second Bancorp (NASDAQ:OSBCGet Free Report) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.12). Old Second Bancorp had a return on equity of 17.52% and a net margin of 28.12%. The company had revenue of $69.96 million for the quarter, compared to analyst estimates of $72.87 million. On average, equities analysts predict that Old Second Bancorp will post 1.89 EPS for the current fiscal year.

Institutional Trading of Old Second Bancorp

Several large investors have recently made changes to their positions in the stock. HighPoint Advisor Group LLC bought a new stake in shares of Old Second Bancorp during the 4th quarter worth about $197,000. Quadrature Capital Ltd acquired a new position in Old Second Bancorp in the 4th quarter valued at approximately $172,000. Vanguard Group Inc. grew its stake in shares of Old Second Bancorp by 5.2% in the 4th quarter. Vanguard Group Inc. now owns 2,378,028 shares of the financial services provider’s stock valued at $36,717,000 after purchasing an additional 117,431 shares during the period. Wellington Management Group LLP grew its stake in shares of Old Second Bancorp by 50.5% in the 4th quarter. Wellington Management Group LLP now owns 387,800 shares of the financial services provider’s stock valued at $5,988,000 after purchasing an additional 130,200 shares during the period. Finally, Mendon Capital Advisors Corp bought a new stake in Old Second Bancorp during the 4th quarter worth approximately $3,088,000. Institutional investors own 67.76% of the company’s stock.

About Old Second Bancorp

(Get Free Report)

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.

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