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

Old Second Bancorp (NASDAQ:OSBC) issued 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. The firm had revenue of $83.83 million during the quarter, compared to the consensus estimate of $69.50 million. Old Second Bancorp had a return on equity of 16.78% and a net margin of 26.90%.

Old Second Bancorp Price Performance

Shares of OSBC stock opened at $13.74 on Friday. Old Second Bancorp has a 1-year low of $10.79 and a 1-year high of $16.76. The company has a market cap of $615.55 million, a P/E ratio of 6.97 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s 50-day moving average is $13.49 and its 200 day moving average is $14.17.

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, April 25th. Old Second Bancorp’s payout ratio is 10.15%.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Old Second Bancorp in the second quarter valued at $48,000. Tower Research Capital LLC TRC grew its holdings 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 valued at $105,000 after purchasing an additional 5,925 shares during the period. State of Wyoming grew its holdings 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. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Old Second Bancorp in the fourth quarter valued at approximately $168,000. Finally, UBS Group AG increased its holdings in Old Second Bancorp by 140.8% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James raised Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price target for the company in a report on Thursday, April 4th.

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.