Midwest regional bank Old Second Bancorp (NASDAQ:OSBC) will be reporting results this Wednesday afternoon. Here’s what you need to know.
Old Second Bancorp met analysts’ revenue expectations last quarter, reporting revenues of $95.54 million, up 29.9% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates.
Is Old Second Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Old Second Bancorp’s revenue to grow 27.2% year on year, improving from the 4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Old Second Bancorp has a history of exceeding Wall Street’s expectations.
Looking at Old Second Bancorp’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Wintrust Financial delivered year-on-year revenue growth of 11.4%, beating analysts’ expectations by 1.2%, and BancFirst reported revenues up 7.8%, topping estimates by 1%. BancFirst traded up 3.6% following the results.
Read our full analysis of Wintrust Financial’s results here and BancFirst’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 10.2% on average over the last month. Old Second Bancorp is up 10.7% during the same time and is heading into earnings with an average analyst price target of $23.60 (compared to the current share price of $21.80).
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