Old Second Bancorp, Inc. Expected to Earn Q3 2024 Earnings of $0.46 Per Share (NASDAQ:OSBC)

Old Second Bancorp, Inc. (NASDAQ:OSBC) – Analysts at DA Davidson lowered their Q3 2024 earnings per share estimates for shares of Old Second Bancorp in a note issued to investors on Thursday, September 26th. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings of $0.46 per share for the quarter, down from their prior forecast of $0.47. DA Davidson has a “Neutral” rating and a $17.00 price objective on the stock. The consensus estimate for Old Second Bancorp’s current full-year earnings is $1.91 per share. DA Davidson also issued estimates for Old Second Bancorp’s FY2024 earnings at $1.85 EPS and FY2025 earnings at $1.70 EPS.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $70.82 million for the quarter, compared to the consensus estimate of $70.03 million. Old Second Bancorp had a net margin of 25.62% and a return on equity of 14.83%.

A number of other analysts also recently issued reports on OSBC. Raymond James downgraded Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $19.00 to $18.00 in a research report on Tuesday, September 17th. Piper Sandler lifted their price target on Old Second Bancorp from $18.00 to $19.50 and gave the company an “overweight” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.88.

Old Second Bancorp Stock Performance

Shares of OSBC opened at $15.42 on Friday. The company has a market cap of $691.53 million, a PE ratio of 7.83 and a beta of 1.07. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $16.29 and a 200-day moving average price of $14.93. Old Second Bancorp has a 12-month low of $13.00 and a 12-month high of $17.46.

Hedge Funds Weigh In On Old Second Bancorp

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Old Second Bancorp by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock worth $33,548,000 after purchasing an additional 45,955 shares during the period. Banc Funds Co. LLC increased its stake in Old Second Bancorp by 3.7% in the 4th quarter. Banc Funds Co. LLC now owns 2,126,262 shares of the financial services provider’s stock worth $32,829,000 after purchasing an additional 74,952 shares during the period. Dimensional Fund Advisors LP increased its stake in Old Second Bancorp by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock worth $25,188,000 after purchasing an additional 138,253 shares during the period. The Manufacturers Life Insurance Company increased its stake in Old Second Bancorp by 9.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,061,824 shares of the financial services provider’s stock worth $16,395,000 after purchasing an additional 91,442 shares during the period. Finally, American Century Companies Inc. increased its stake in Old Second Bancorp by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock worth $11,851,000 after purchasing an additional 131,623 shares during the period. 67.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John Ladowicz sold 30,585 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $16.22, for a total value of $496,088.70. Following the completion of the sale, the director now owns 189,192 shares in the company, valued at approximately $3,068,694.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is currently owned by corporate insiders.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 26th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $0.20 dividend on an annualized basis and a yield of 1.30%. Old Second Bancorp’s payout ratio is 10.15%.

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.