Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Down 40.9% in January

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 304,800 shares, a decline of 40.9% from the January 15th total of 515,700 shares. Based on an average daily volume of 262,200 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OSBC shares. Piper Sandler boosted their price objective on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. DA Davidson set a $18.00 price target on shares of Old Second Bancorp in a report on Thursday, October 17th. Stephens reaffirmed an “overweight” rating and issued a $21.00 price objective on shares of Old Second Bancorp in a report on Thursday, January 23rd. Finally, Raymond James raised shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th.

Insider Transactions at Old Second Bancorp

In related news, Director Rocks Patti Temple acquired 5,625 shares of Old Second Bancorp stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $17.79 per share, for a total transaction of $100,068.75. Following the purchase, the director now directly owns 18,679 shares of the company’s stock, valued at $332,299.41. The trade was a 43.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in OSBC. R Squared Ltd purchased a new stake in shares of Old Second Bancorp in the fourth quarter valued at $96,000. Quantbot Technologies LP boosted its position in Old Second Bancorp by 134.0% during the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 3,587 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Old Second Bancorp in the 3rd quarter valued at about $101,000. CWM LLC lifted its position in shares of Old Second Bancorp by 36.3% in the third quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 2,123 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Old Second Bancorp during the third quarter worth approximately $158,000. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Price Performance

Shares of NASDAQ:OSBC traded down $0.19 on Thursday, reaching $18.66. 26,713 shares of the company traded hands, compared to its average volume of 241,104. The stock has a market capitalization of $836.68 million, a PE ratio of 9.99 and a beta of 1.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50 day moving average is $18.28 and its 200-day moving average is $17.23. Old Second Bancorp has a fifty-two week low of $13.00 and a fifty-two week high of $19.46.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. As a group, analysts anticipate that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 31st were given a $0.06 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.24 annualized dividend and a dividend yield of 1.29%. Old Second Bancorp’s dividend payout ratio (DPR) is presently 12.83%.

About Old Second Bancorp

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.