Old Second Bancorp (NASDAQ:OSBC) Posts Earnings Results

Old Second Bancorp (NASDAQ:OSBC) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04), Zacks reports. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%.

Old Second Bancorp Price Performance

Shares of OSBC opened at $18.68 on Thursday. Old Second Bancorp has a fifty-two week low of $13.00 and a fifty-two week high of $19.37. The firm’s 50 day moving average price is $18.19 and its 200 day moving average price is $16.93. The company has a market cap of $837.80 million, a P/E ratio of 10.10 and a beta of 1.08. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

Insider Buying and Selling

In other news, Director Rocks Patti Temple acquired 5,625 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $17.79 per share, with a total value of $100,068.75. Following the transaction, the director now owns 18,679 shares in the company, valued at approximately $332,299.41. This trade represents a 43.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OSBC. Piper Sandler lifted their price target on shares of Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. DA Davidson set a $18.00 price target on shares of Old Second Bancorp in a research report on Thursday, October 17th. Finally, Raymond James upgraded shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th.

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.