Old Second Bancorp (OSBC) got here out with quarterly earnings of $0.30 per share, lacking the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.31 per share a yr in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of -9.09%. 1 / 4 in the past, it was anticipated that this monetary holding firm would put up earnings of $0.26 per share when it really produced earnings of $0.29, delivering a shock of 11.54%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates two occasions.
Outdated Second Bancorp, which belongs to the Zacks Banks – Midwest trade, posted revenues of $29.87 million for the quarter ended June 2021, lacking the Zacks Consensus Estimate by 12.05%. This compares to year-ago revenues of $33.four million. The corporate has topped consensus income estimates thrice during the last 4 quarters.
The sustainability of the inventory’s speedy worth motion based mostly on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.
Outdated Second Bancorp shares have added about 22.2% because the starting of the yr versus the S&P 500’s achieve of 15.1%.
What’s Subsequent for Outdated Second Bancorp?
Whereas Outdated Second Bancorp has outperformed the market to this point this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist buyers tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified these days.
Empirical analysis reveals a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Buyers can observe such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a formidable observe file of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Outdated Second Bancorp was blended. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You possibly can see the whole checklist of as we speak’s Zacks #1 Rank (Robust Purchase) shares right here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.31 on $33.7 million in revenues for the approaching quarter and $1.32 on $136.Three million in revenues for the present fiscal yr.
Buyers ought to be conscious of the truth that the outlook for the trade can have a cloth affect on the efficiency of the inventory as effectively. When it comes to the Zacks Business Rank, Banks – Midwest is at the moment within the prime 19% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Outdated Second Bancorp, Inc. (OSBC): Free Inventory Evaluation Report
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