Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Increases By 36.9%

Old Second Bancorp, Inc. (NASDAQ:OSBC) saw a significant increase in short interest in 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. Based on an average trading volume of 242,400 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.9% of the shares of the company are short sold.

Old Second Bancorp Price Performance

Shares of NASDAQ:OSBC traded up $0.34 during trading on Friday, reaching $16.52. The stock had a trading volume of 155,302 shares, compared to its average volume of 231,459. The business has a fifty day moving average price of $18.17 and a 200-day moving average price of $17.52. Old Second Bancorp has a 1-year low of $13.02 and a 1-year high of $19.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $744.18 million, a PE ratio of 8.83 and a beta of 1.04.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts forecast that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 31st were issued a $0.06 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.24 annualized dividend and a dividend yield of 1.45%. Old Second Bancorp’s dividend payout ratio is presently 12.83%.

Insider Activity at Old Second Bancorp

In other news, Director Rocks Patti Temple purchased 5,625 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $17.79 per share, with a total value of $100,068.75. Following the completion of the acquisition, the director now owns 18,679 shares of the company’s stock, valued at approximately $332,299.41. This represents a 43.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Old Second Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its position in shares of Old Second Bancorp by 70.1% during the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 974 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Old Second Bancorp in the 4th quarter valued at approximately $96,000. Quantbot Technologies LP increased its holdings in shares of 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 buying an additional 3,587 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Old Second Bancorp during the 3rd quarter valued at approximately $101,000. Finally, Aquatic Capital Management LLC lifted its holdings in Old Second Bancorp by 47.3% in the fourth quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 2,556 shares during the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OSBC. Raymond James upgraded Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Stephens raised their price objective on Old Second Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods upped their target price on 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 analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.90.

Old Second Bancorp Company Profile

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.