Piper Sandler analyst Nathan Race raised the firm’s price target on Old Second Bancorp (OSBC) to $23 from $22.50 and keeps an Overweight rating on the shares after its Q3 earnings report. The firm commented that results were “solid” and highlighted by net interest margin and net interest income upside, net recoveries and lower classified loans levels. Piper expects multiple expansion due to continued credit quality improvement and its “defensible top tier profitability profile” that will likely generate further excess capital optionality.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OSBC:
- Old Second Bancorp reports Q3 adjusted EPS 51c, consensus 47c
- DA Davidson technology analyst holds an analyst/industry conference call
- Old Second Bancorp downgraded to Neutral from Buy at DA Davidson
- Old Second Bancorp downgraded to Outperform from Strong Buy at Raymond James
- Old Second Bancorp Acquires First Merchants Bank Branches
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue