Old Second Bancorp price target raised to $19 from $16 at DA Davidson

DA Davidson raised the firm’s price target on Old Second Bancorp to $19 from $16 and keeps a Buy rating on the shares after its Q2 results. Credit issues have masked a fantastic deposit base and a remarkably strong net interest margin at Old Second Bancorp for nearly 3 years, but these may be “turning the corner” given the non-performing asset decline and indications of further improvement, the analyst tells investors in a research note. Loan growth seems to have better momentum into the second half of the year, while a robust net interest margin remains a franchise strength, the firm added.