Wall Street analysts expect Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Rating) to report sales of $53.93 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates of Old Second Bancorp’s earnings, with the lowest sales estimate of $53.60 million and the highest estimate of $54.20 million. Old Second Bancorp recorded sales of $29.87 million in the same quarter last year, indicating a positive year-over-year growth rate of 80.5%. The company is expected to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect Old Second Bancorp to report annual sales of $222.50 million in the current fiscal year, with estimates ranging from $220.20 to $225.30 million. For the next fiscal year, analysts expect the company to record sales of $243.20 million, with estimates ranging from $236.00 to $252.10 million. Zacks’ sell calculations are an average based on a survey of sell-side research analysts who cover Old Second Bancorp.
Old Second Bancorp (NASDAQ:OSBC – Get Rating) last released its quarterly results on Wednesday, April 27. The financial services provider reported EPS of $0.36 for the quarter, beating the consensus estimate of $0.24 by $0.12. The company posted revenue of $54.73 million in the quarter, versus a consensus estimate of $53.10 million. Old Second Bancorp had a net margin of 12.26% and a return on equity of 11.41%.
A number of brokerages have weighed in on OSBC recently. StockNews.com began covering shares of Old Second Bancorp in a research report on Thursday, March 31. They issued a “holding” rating for the company. Zacks Investment Research upgraded shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating and set a target price of $17.00 for the company in a Saturday, April 2, report. Finally, DA Davidson upgraded shares of Old Second Bancorp from a “neutral” rating to a “buy” rating and set a target price of $22.00 for the company in a Monday, March 21 report.
Shares of OSBC opened at $13.94 on Friday. Old Second Bancorp has a 12-month low of $11.16 and a 12-month high of $15.48. The company has a market capitalization of $619.79 million, a P/E ratio of 23.23 and a beta of 1.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt ratio of 0.32. The company has a fifty-day moving average price of $14.24 and a 200-day moving average price of $13.73.
The company also recently declared a quarterly dividend, which was paid on Monday, May 9. Shareholders of record on Friday, April 29 received a dividend of $0.05. The ex-dividend date was Thursday, April 28. This represents an annualized dividend of $0.20 and a dividend yield of 1.43%. Old Second Bancorp’s dividend payout ratio is currently 33.33%.
In other news, manager William B. Skoglund sold 4,557 shares in a trade that took place on Monday, April 11. The shares were sold at an average price of $14.20, for a total value of $64,709.40. Following the sale, the director now directly owns 9,853 shares of the company, valued at $139,912.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. 5.50% of the shares are held by company insiders.
A number of large investors have recently bought and sold shares of OSBC. Forum Financial Management LP increased its stake in Old Second Bancorp by 2,797.7% during the first quarter. Forum Financial Management LP now owns 2,812,351 shares of the financial services provider worth $40,807,000 after purchasing an additional 2,715,296 shares during the period. River Oaks Capital LLC bought a new position in shares of Old Second Bancorp in Q4 worth $1,322,000. FJ Capital Management LLC increased its stake in shares of Old Second Bancorp by 39.5% in the third quarter. FJ Capital Management LLC now owns 2,164,000 shares of the financial services provider valued at $28,264,000 after acquiring an additional 613,000 shares during the period. Vanguard Group Inc. increased its holdings in Old Second Bancorp by 42.3% during the first quarter. Vanguard Group Inc. now owns 1,925,199 shares of the financial services provider valued at $27,934,000 after buying an additional 572,257 shares last quarter. Finally, EJF Capital LLC increased its stake in Old Second Bancorp by 140.4% during the 1st quarter. EJF Capital LLC now owns 849,682 shares of the financial services provider valued at $12,329,000 after purchasing an additional 496,218 shares last quarter. 50.83% of the shares are currently held by institutional investors.
About Old Second Bancorp (Get an evaluation)
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank which provides community banking services. It provides current, NOW, money market, savings, term deposit, individual retirement and checking accounts, as well as certificates of deposit accounts. The company also offers commercial loans; finance lease receivables; commercial real estate loans; building loans; residential real estate loans, such as residential first and second mortgages; home equity line of credit; consumer loans, including auto, home improvement and signature loans; installment loans and agricultural loans; residential mortgages; and verification of overdrafts.
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