Stephens analyst Terry McEvoy raised the firm’s price target on Old Second Bancorp (OSBC) to $22 from $21 and keeps an Overweight rating on the shares after the bank announced the acquisition of privately-held Bancorp Financial, parent of Evergreen Bank. From a strategic perspective, the deal adds a new nationwide consumer lending platform and additional scale in Chicago, the analyst tells investors.
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Read More on OSBC:
- Old Second Bancorp signs merger agreement with Bancorp Financial
- Old Second Bancorp to acquire Bancorp Financial for $62.60 per share
- Old Second Bancorp’s Earnings Call Reveals Strong Performance Amid Challenges
- Old Second Bancorp Reports Mixed Fourth-Quarter Results
- OSBC Earnings Report this Week: Is It a Buy, Ahead of Earnings?
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