Old Second Bancorp price target lowered to $18 from $20 at Raymond James

Raymond James analyst David Long lowered the firm’s price target on Old Second Bancorp to $18 from $20 and keeps a Strong Buy rating on the shares. Old Second Bancorp is extremely well positioned for the current operating backdrop given that investments made to increase loan origination capacity are bearing fruit, and more NIM upside is available given its low-cost core deposit base and variable rate loan portfolio, the analyst tells investors in a research note.