Old Second Bancorp price target lowered to $21 from $22 at Raymond James

Raymond James lowered the firm’s price target on Old Second Bancorp (OSBC) to $21 from $22 and keeps a Strong Buy rating on the shares. The quarter was highlighted by the unexpectedly robust net interest margin expansion as well as the continued clean up of its credit issues, and while losses were elevated, the bank continues to make progress on reducing risk, the analyst tells investors in a research note. The firm believes Old Second will continue to expand its franchise and produce superior profitability metrics.