Zacks: Brokerages Anticipate Old Second Bancorp Inc. (OSBC) Will Announce Earnings of $0.30 Per Share

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Equities analysts predict that Old Second Bancorp Inc. (NASDAQ:OSBC) will post earnings of $0.30 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Old Second Bancorp’s earnings. The highest EPS estimate is $0.30 and the lowest is $0.29. Old Second Bancorp posted earnings per share of $0.27 in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The company is expected to report its next quarterly earnings report on Tuesday, November 6th.

On average, analysts expect that Old Second Bancorp will report full-year earnings of $1.14 per share for the current year. For the next year, analysts anticipate that the firm will report earnings of $1.26 per share, with EPS estimates ranging from $1.24 to $1.28. Zacks’ EPS calculations are an average based on a survey of research firms that follow Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.07). The firm had revenue of $31.77 million for the quarter, compared to the consensus estimate of $32.15 million. Old Second Bancorp had a net margin of 16.58% and a return on equity of 15.63%.

OSBC has been the subject of a number of recent research reports. Zacks Investment Research upgraded Old Second Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Thursday, September 27th. Sandler O’Neill restated a “buy” rating and set a $18.00 price target on shares of Old Second Bancorp in a research note on Friday, July 27th. Finally, BidaskClub downgraded Old Second Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Old Second Bancorp has a consensus rating of “Buy” and a consensus target price of $17.50.

Shares of Old Second Bancorp stock traded down $0.01 during trading hours on Friday, reaching $14.85. 307,232 shares of the stock traded hands, compared to its average volume of 154,427. The company has a market cap of $442.04 million, a P/E ratio of 18.33, a P/E/G ratio of 1.86 and a beta of 0.64. Old Second Bancorp has a one year low of $12.15 and a one year high of $16.30. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.60.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Friday, October 26th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, October 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. Old Second Bancorp’s dividend payout ratio is currently 4.94%.

Several institutional investors have recently added to or reduced their stakes in OSBC. The Manufacturers Life Insurance Company grew its stake in shares of Old Second Bancorp by 23.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 717,202 shares of the financial services provider’s stock valued at $9,969,000 after purchasing an additional 137,769 shares during the period. Martingale Asset Management L P grew its stake in shares of Old Second Bancorp by 106.7% during the 2nd quarter. Martingale Asset Management L P now owns 162,582 shares of the financial services provider’s stock valued at $2,342,000 after purchasing an additional 83,918 shares during the period. Renaissance Technologies LLC grew its stake in shares of Old Second Bancorp by 7.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,131,700 shares of the financial services provider’s stock valued at $16,296,000 after purchasing an additional 77,300 shares during the period. BlackRock Inc. grew its stake in shares of Old Second Bancorp by 3.7% during the 2nd quarter. BlackRock Inc. now owns 1,976,789 shares of the financial services provider’s stock valued at $28,466,000 after purchasing an additional 69,773 shares during the period. Finally, FSI Group LLC grew its stake in shares of Old Second Bancorp by 54.5% during the 2nd quarter. FSI Group LLC now owns 176,538 shares of the financial services provider’s stock valued at $2,542,000 after acquiring an additional 62,260 shares during the period. Institutional investors and hedge funds own 69.94% of the company’s stock.

About Old Second Bancorp

Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank that provides a range of banking services. The company accepts demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers revolving lines of credit for working capital; lending for capital expenditures on manufacturing equipment; lending to small business manufactures, service companies, medical and dental entities, and specialty contractors; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage loans, second mortgage loans, and home equity line of credit mortgages; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans, as well as student loans; and overdraft checking.

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