$53.10 million in sales expected for Old Second Bancorp, Inc. (NASDAQ:OSBC) this quarter
Wall Street analysts expect Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Rating) to post sales of $53.10 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates of Old Second Bancorp’s earnings, with estimates ranging from $52.20 million to $54.10 million. Old Second Bancorp reported sales of $34.84 million in the same quarter last year, indicating a positive year-over-year growth rate of 52.4%. The company is due to release its next earnings report on Monday, January 1.
According to Zacks, analysts expect Old Second Bancorp to report annual sales of $218.73 million for the current year, with estimates ranging from $218.00 million to $219.40 million. . For next year, analysts expect the company to post sales of $236.53 million, with estimates ranging from $234.00 million to $238.10 million. Zacks Sell Averages are an average average based on a survey of sell-side research analysts who provide coverage for Old Second Bancorp.
Old Second Bancorp (NASDAQ:OSBC – Get Rating) last released its results on Wednesday, January 26. The financial services provider reported earnings per share (EPS) of $0.36 for the quarter, beating Thomson Reuters consensus estimate of $0.22 by $0.14. Old Second Bancorp had a return on equity of 10.57% and a net margin of 13.87%. The company posted revenue of $39.32 million for the quarter, versus $39.07 million expected by analysts.
Several stock analysts have recently released reports on OSBC shares. Zacks Investment Research upgraded Old Second Bancorp from a “hold” rating to a “strong-buy” rating and set a price target of $17.00 for the company in a Saturday, April 2 report. DA Davidson upgraded shares of Old Second Bancorp from a “neutral” rating to a “buy” rating and set a price target of $22.00 on the stock in a Monday 21 research report March. Finally, StockNews.com began covering shares of Old Second Bancorp in a report on Thursday, March 31. They set a “hold” rating for the company.
In other Old Second Bancorp news, Director William B. Skoglund sold 4,557 shares of the company in a trade dated Monday, March 14. The shares were sold at an average price of $14.46, for a total value of $65,894.22. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Insiders sold 13,671 shares of the company worth $195,814 in the past ninety days. Insiders hold 4.70% of the shares of the company.
Major investors have recently been buying and selling shares of the company. Citigroup Inc. raised its position in shares of Old Second Bancorp by 90.3% in the third quarter. Citigroup Inc. now owns 4,695 shares of the financial services provider valued at $61,000 after buying 2,228 additional shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Old Second Bancorp in the first quarter worth approximately $60,000. Tsfg LLC acquired a new position in Old Second Bancorp during the first quarter worth approximately $80,000. BNP Paribas Arbitrage SA increased its position in Old Second Bancorp by 113.8% during the third quarter. BNP Paribas Arbitrage SA now owns 7,510 shares of the financial services provider worth $98,000 after buying 3,997 additional shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its position in Old Second Bancorp by 89.5% during the third quarter. Metropolitan Life Insurance Co NY now owns 7,565 shares of the financial services provider worth $99,000 after buying 3,572 additional shares in the last quarter. 73.50% of the shares are held by institutional investors and hedge funds.
NASDAQ OSBC opened at $13.77 on Friday. The company’s 50-day moving average is $14.25 and its two-hundred-day moving average is $13.67. The stock has a market capitalization of $612.21 million, a price-earnings ratio of 18.86 and a beta of 1.16. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt ratio of 0.30. Old Second Bancorp has a 12-month low of $11.16 and a 12-month high of $15.48.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 9. Shareholders of record on Friday, April 29 will receive a dividend of $0.05. This represents an annualized dividend of $0.20 and a dividend yield of 1.45%. The ex-dividend date is Thursday, April 28. Old Second Bancorp’s dividend payout ratio (DPR) is currently 27.40%.
About Old Second Bancorp (Get an evaluation)
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank which provides community banking services. It provides current, NOW, money market, savings, term deposit, individual retirement and checking accounts, as well as certificates of deposit accounts. The company also offers commercial loans; finance lease receivables; commercial real estate loans; building loans; residential real estate loans, such as residential first and second mortgages; home equity line of credit; consumer loans, including auto, home improvement and signature loans; installment loans and agricultural loans; residential mortgages; and verification of overdrafts.
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