Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Update

Old Second Bancorp, Inc. (NASDAQ:OSBC) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 404,700 shares, an increase of 36.9% from the February 13th total of 295,600 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily volume of 242,400 shares, the days-to-cover ratio is currently 1.7 days.

Old Second Bancorp Stock Performance

NASDAQ OSBC traded up $0.04 during trading hours on Monday, reaching $16.56. 195,534 shares of the company were exchanged, compared to its average volume of 231,316. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $745.98 million, a P/E ratio of 8.86 and a beta of 1.04. Old Second Bancorp has a 1 year low of $13.02 and a 1 year high of $19.46. The business’s 50 day simple moving average is $18.17 and its 200-day simple moving average is $17.53.

Old Second Bancorp (NASDAQ:OSBC) last issued its 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 return on equity of 13.73% and a net margin of 24.95%. On average, equities research analysts expect that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 31st were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.24 dividend on an annualized basis and a yield of 1.45%. Old Second Bancorp’s dividend payout ratio is presently 12.83%.

Wall Street Analysts Forecast Growth

OSBC has been the topic of several research analyst reports. 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. Stephens increased their target price on shares of Old Second Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Old Second Bancorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $20.90.

Insider Activity

In related news, Director Rocks Patti Temple bought 5,625 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $17.79 per share, with a total value of $100,068.75. Following the completion of the purchase, the director now directly owns 18,679 shares in the company, valued at $332,299.41. The trade was a 43.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

A number of large investors have recently modified their holdings of OSBC. Boothbay Fund Management LLC purchased a new stake in Old Second Bancorp in the 4th quarter worth approximately $6,084,000. Millennium Management LLC raised its position in shares of Old Second Bancorp by 452.4% in the fourth quarter. Millennium Management LLC now owns 308,223 shares of the financial services provider’s stock worth $5,480,000 after buying an additional 252,430 shares in the last quarter. River Street Advisors LLC purchased a new stake in shares of Old Second Bancorp in the fourth quarter worth $3,363,000. Nuveen Asset Management LLC raised its position in shares of Old Second Bancorp by 188.2% in the fourth quarter. Nuveen Asset Management LLC now owns 281,572 shares of the financial services provider’s stock worth $5,006,000 after buying an additional 183,869 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Old Second Bancorp by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 2,637,718 shares of the financial services provider’s stock worth $46,899,000 after buying an additional 181,783 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors.

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.