Stephens analyst Terry McEvoy initiated coverage of Old Second Bancorp with an Overweight rating and $18 price target. Recent events in the sector "highlight the value of the company’s deposit base," contends the firm, which notes that the cumulative interest-bearing deposit beta this cycle has been about 2% and that about 80% of Old Second deposits are FDIC insured. Old Second’s size and franchise today is "well positioned for market share growth" following years of consolidation in Chicago, the firm added.
Published first on TheFly
