FIG Partners Weighs in on Old Second Bancorp, Inc.’s Q3 2017 Earnings (OSBC)

Old Second Bancorp, Inc. (NASDAQ:OSBC) – Equities researchers at FIG Partners raised their Q3 2017 earnings estimates for shares of Old Second Bancorp in a research report issued to clients and investors on Monday. FIG Partners analyst B. Martin now anticipates that the financial services provider will earn $0.21 per share for the quarter, up from their previous forecast of $0.19. FIG Partners also issued estimates for Old Second Bancorp’s Q4 2017 earnings at $0.20 EPS, Q1 2018 earnings at $0.19 EPS, Q2 2018 earnings at $0.20 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.21 EPS and FY2018 earnings at $0.82 EPS.

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OSBC has been the topic of several other reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $11.00 price target on shares of Old Second Bancorp in a research note on Thursday, June 1st. Zacks Investment Research lowered Old Second Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, ValuEngine raised Old Second Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd.

Shares of Old Second Bancorp (NASDAQ:OSBC) opened at 11.85 on Tuesday. Old Second Bancorp has a 1-year low of $7.21 and a 1-year high of $12.75. The company has a market capitalization of $351.08 million, a PE ratio of 19.11 and a beta of 1.32. The company’s 50-day moving average price is $11.69 and its 200-day moving average price is $11.32.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC increased its position in shares of Old Second Bancorp by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 9,703 shares of the financial services provider’s stock worth $109,000 after buying an additional 496 shares during the period. Menta Capital LLC acquired a new position in shares of Old Second Bancorp during the first quarter worth about $141,000. Prudential Financial Inc. increased its position in shares of 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 period. Globeflex Capital L P increased its position in shares of Old Second Bancorp by 9,572.5% in the first quarter. Globeflex Capital L P now owns 17,604 shares of the financial services provider’s stock worth $198,000 after buying an additional 17,422 shares during the period. Finally, American International Group Inc. increased its position in shares of Old Second Bancorp by 7.1% in the first 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. Hedge funds and other institutional investors own 65.56% of the company’s stock.

In related news, Director Edward Bonifas purchased 2,816 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was acquired at an average price of $11.49 per share, for a total transaction of $32,355.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Bradley S. Adams purchased 41,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were bought at an average price of $11.89 per share, with a total value of $497,002.00. The disclosure for this purchase can be found here. Insiders have bought 50,866 shares of company stock worth $601,970 over the last ninety days. 3.60% of the stock is owned by insiders.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 7th. Stockholders of record on Friday, July 28th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Wednesday, July 26th.

Old Second Bancorp Company Profile

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

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