Old Second Bancorp (NASDAQ:OSBC) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Old Second Bancorp (NASDAQ:OSBC) from a buy rating to a hold rating in a report released on Tuesday, December 26th.

According to Zacks, “Old Second Bancorp Inc.’s full service banking businesses include the customary consumer and commercial products and services which banks provide. The following services are included: demand, savings, time deposit, individual retirement and Keogh deposit accounts; commercial, industrial, consumer and real estate lending, including installment loans, student loans, farm loans, lines of credit and overdraft checking; safe deposit operations; trust services; and an extensive variety of additional services tailored to the needs of individual customers. “

OSBC has been the topic of a number of other reports. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $11.50 target price on shares of Old Second Bancorp in a report on Tuesday, October 3rd. Sandler O’Neill raised shares of Old Second Bancorp from a hold rating to a buy rating in a research note on Thursday, December 14th. BidaskClub cut shares of Old Second Bancorp from a buy rating to a hold rating in a research note on Saturday, December 9th. ValuEngine cut shares of Old Second Bancorp from a buy rating to a hold rating in a research note on Saturday, October 21st. Finally, DA Davidson began coverage on shares of Old Second Bancorp in a research note on Friday, September 1st. They set a neutral rating and a $13.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $13.17.

Old Second Bancorp (NASDAQ OSBC) opened at $14.95 on Tuesday. Old Second Bancorp has a twelve month low of $9.65 and a twelve month high of $14.97. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.51. The firm has a market cap of $439.96, a P/E ratio of 19.93, a P/E/G ratio of 2.24 and a beta of 1.27.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.08. Old Second Bancorp had a net margin of 29.78% and a return on equity of 16.53%. research analysts expect that Old Second Bancorp will post 0.79 EPS for the current fiscal year.

In related news, Director John Ladowicz sold 10,096 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $14.40, for a total value of $145,382.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 10,996 shares of company stock worth $157,874 over the last quarter. Insiders own 3.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Thomson Horstmann & Bryant Inc. lifted its holdings in Old Second Bancorp by 2.2% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 1,401,108 shares of the financial services provider’s stock valued at $19,125,000 after purchasing an additional 30,511 shares in the last quarter. Stonebridge Capital Advisors LLC purchased a new position in Old Second Bancorp in the 3rd quarter valued at about $447,000. California Public Employees Retirement System lifted its holdings in shares of Old Second Bancorp by 11.8% during the 3rd quarter. California Public Employees Retirement System now owns 87,997 shares of the financial services provider’s stock worth $1,184,000 after acquiring an additional 9,297 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Old Second Bancorp by 28.1% during the 3rd quarter. Wells Fargo & Company MN now owns 91,224 shares of the financial services provider’s stock worth $1,227,000 after acquiring an additional 20,012 shares during the period. Finally, Macquarie Group Ltd. purchased a new position in shares of Old Second Bancorp during the 3rd quarter worth about $855,000. Institutional investors own 68.27% of the company’s stock.

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About Old Second Bancorp

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