Old Second Bancorp downgraded to Neutral from Buy at DA Davidson

DA Davidson downgraded Old Second Bancorp to Neutral from Buy with a price target of $17, down from $19. The firm still maintains a positive outlook on Old Second Bancorp, telling investors in a research note that the bank’s conservative credit approach, superior deposit franchise and above peer profitability metrics remain intact, but it sees less relative upside for Old Second and believes the stock’s current valuation fairly reflects the bank’s outlook among the sector’s shifting sentiment.