Old Second Bancorp, Inc. (OSBC) Expected to Post Quarterly Sales of $27.35 Million

Equities analysts expect Old Second Bancorp, Inc. (NASDAQ:OSBC) to post $27.35 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Old Second Bancorp’s earnings, with the highest sales estimate coming in at $27.40 million and the lowest estimate coming in at $27.30 million. Old Second Bancorp posted sales of $21.94 million in the same quarter last year, which suggests a positive year-over-year growth rate of 24.7%. The business is expected to report its next quarterly earnings results on Tuesday, November 14th.

According to Zacks, analysts expect that Old Second Bancorp will report full-year sales of $27.35 million for the current year, with estimates ranging from $105.60 million to $109.20 million. For the next fiscal year, analysts forecast that the company will report sales of $115.10 million per share, with estimates ranging from $111.60 million to $118.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Old Second Bancorp.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.08. Old Second Bancorp had a net margin of 16.82% and a return on equity of 10.30%.

A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Old Second Bancorp from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research report on Wednesday, October 25th. ValuEngine downgraded shares of Old Second Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 21st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $11.50 target price on shares of Old Second Bancorp in a research report on Tuesday, October 3rd. BidaskClub raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Finally, DA Davidson began 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 objective for the company. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $13.50.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Friday, October 27th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Thursday, October 26th. Old Second Bancorp’s dividend payout ratio (DPR) is 6.45%.

In other news, Director William Kane sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $11.98, for a total transaction of $119,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward Bonifas acquired 3,000 shares of Old Second Bancorp stock in a transaction dated Wednesday, August 16th. The shares were bought 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. In the last ninety days, insiders have bought 5,550 shares of company stock valued at $62,594 and have sold 59,246 shares valued at $741,240. Company insiders own 3.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in OSBC. Wells Fargo & Company MN grew its position in shares of Old Second Bancorp by 7.0% during the 1st quarter. Wells Fargo & Company MN now owns 75,588 shares of the financial services provider’s stock worth $851,000 after buying an additional 4,936 shares during the period. Bank of New York Mellon Corp grew its position in shares of Old Second Bancorp by 8.6% during the 1st 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 period. Parametric Portfolio Associates LLC grew its position in shares of Old Second Bancorp by 6.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 36,958 shares of the financial services provider’s stock worth $416,000 after buying an additional 2,280 shares during the period. Prudential Financial Inc. grew its position in shares of Old Second Bancorp by 7.4% during the 1st 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 period. Finally, American International Group Inc. grew its position in shares of Old Second Bancorp by 7.1% during the 1st quarter. American International Group Inc. now owns 17,704 shares of the financial services provider’s stock worth $199,000 after buying an additional 1,175 shares during the period. 65.02% of the stock is owned by institutional investors.

Old Second Bancorp Company Profile

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Earnings History and Estimates for Old Second Bancorp (NASDAQ:OSBC)

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