Old Second Bancorp (NASDAQ:OSBC) Posts Quarterly 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 analysts’ consensus estimates of $0.48 by ($0.01), Yahoo Finance reports. Old Second Bancorp had a net margin of 26.90% and a return on equity of 16.78%. The company had revenue of $83.83 million for the quarter, compared to analyst estimates of $69.50 million.

Old Second Bancorp Stock Up 1.7 %

Shares of OSBC opened at $13.97 on Friday. Old Second Bancorp has a 52 week low of $10.79 and a 52 week high of $16.76. The firm has a market capitalization of $625.86 million, a P/E ratio of 6.97 and a beta of 1.10. The company has a 50-day simple moving average of $13.49 and a 200-day simple moving average of $14.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82.

Old Second Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 26th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, April 25th. Old Second Bancorp’s dividend payout ratio (DPR) is presently 10.15%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Old Second Bancorp by 5.2% during the 4th quarter. Vanguard Group Inc. now owns 2,378,028 shares of the financial services provider’s stock worth $36,717,000 after purchasing an additional 117,431 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Old Second Bancorp by 5.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,825 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 758 shares in the last quarter. Barclays PLC increased its stake in Old Second Bancorp by 56.3% in the fourth quarter. Barclays PLC now owns 114,281 shares of the financial services provider’s stock valued at $1,764,000 after acquiring an additional 41,150 shares during the period. Occudo Quantitative Strategies LP bought a new position in Old Second Bancorp during the fourth quarter worth about $381,000. Finally, Bridgeway Capital Management LLC boosted its holdings in Old Second Bancorp by 11.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 191,315 shares of the financial services provider’s stock valued at $2,954,000 after purchasing an additional 20,201 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors.

About Old Second Bancorp

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.