Zacks Investment Research upgraded shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) from a hold rating to a buy rating in a research note issued to investors on Saturday. The firm currently has $12.00 price target on the financial services provider’s stock.
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. “
A number of other research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reissued a hold rating and set a $11.00 price target on shares of Old Second Bancorp in a research report on Thursday, June 1st. ValuEngine raised shares of Old Second Bancorp from a hold rating to a buy rating in a research report on Friday, June 2nd. BidaskClub raised shares of Old Second Bancorp from a hold rating to a buy rating in a research report on Saturday, August 26th. Finally, DA Davidson started coverage on shares of Old Second Bancorp in a research report on Friday, September 1st. They set a neutral rating and a $13.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $12.17.
Shares of Old Second Bancorp (OSBC) opened at 11.40 on Friday. The company has a 50 day moving average of $11.48 and a 200-day moving average of $11.47. Old Second Bancorp has a 12-month low of $7.45 and a 12-month high of $12.75. The firm has a market cap of $337.75 million, a price-to-earnings ratio of 18.39 and a beta of 1.33.
COPYRIGHT VIOLATION WARNING: “Old Second Bancorp, Inc. (OSBC) Upgraded to “Buy” at Zacks Investment Research” was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://sportsperspectives.com/2017/09/13/old-second-bancorp-inc-osbc-upgraded-to-buy-at-zacks-investment-research.html.
In other Old Second Bancorp news, Director William Kane sold 10,000 shares of Old Second Bancorp stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $11.98, for a total value of $119,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward Bonifas bought 3,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was purchased at an average cost of $11.58 per share, with a total value of $34,740.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 5,550 shares of company stock valued at $62,594 and sold 12,000 shares valued at $143,660. 3.60% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in Old Second Bancorp by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 176,286 shares of the financial services provider’s stock worth $1,984,000 after buying an additional 14,020 shares during the last quarter. Prudential Financial Inc. raised its holdings in Old Second Bancorp by 7.4% in the first quarter. Prudential Financial Inc. now owns 16,040 shares of the financial services provider’s stock worth $181,000 after buying an additional 1,100 shares during the last quarter. Vanguard Group Inc. raised its holdings in Old Second Bancorp by 4.7% in the first quarter. Vanguard Group Inc. now owns 967,741 shares of the financial services provider’s stock worth $10,887,000 after buying an additional 43,030 shares during the last quarter. Menta Capital LLC purchased a new position in Old Second Bancorp in the first quarter worth about $141,000. Finally, Wellington Management Group LLP raised its holdings in Old Second Bancorp by 38.3% in the first quarter. Wellington Management Group LLP now owns 2,167,385 shares of the financial services provider’s stock worth $24,384,000 after buying an additional 600,525 shares during the last quarter. 65.55% of the stock is owned by institutional investors and hedge funds.
Old Second Bancorp Company Profile
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Old Second Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Second Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.