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. Based on an average daily trading volume, of 242,400 shares, the short-interest ratio is currently 1.7 days. Currently, 0.9% of the company’s stock are short sold.

Analyst Ratings Changes

Several research firms recently issued reports on OSBC. Keefe, Bruyette & Woods upped their price target on Old Second Bancorp from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Raymond James raised Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Stephens upped their price target on Old Second Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $20.90.

Insider Buying and Selling at Old Second Bancorp

In other news, Director Rocks Patti Temple acquired 5,625 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was 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 directly owns 18,679 shares in the company, valued at $332,299.41. This represents a 43.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake 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 purchasing an additional 181,783 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Old Second Bancorp by 7.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,019,433 shares of the financial services provider’s stock worth $35,906,000 after purchasing an additional 134,455 shares in the last quarter. State Street Corp grew its stake in shares of Old Second Bancorp by 6.5% in the third quarter. State Street Corp now owns 1,264,359 shares of the financial services provider’s stock worth $19,711,000 after purchasing an additional 77,143 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Old Second Bancorp by 16.2% in the third quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider’s stock worth $17,174,000 after purchasing an additional 153,187 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Old Second Bancorp by 10.5% in the fourth quarter. American Century Companies Inc. now owns 1,038,495 shares of the financial services provider’s stock worth $18,464,000 after purchasing an additional 98,617 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Performance

OSBC traded up $0.05 during trading on Tuesday, reaching $16.61. 187,666 shares of the company were exchanged, compared to its average volume of 231,203. The stock has a market cap of $748.23 million, a P/E ratio of 8.90 and a beta of 1.04. The firm has a 50 day moving average of $18.15 and a 200 day moving average of $17.52. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp has a 52 week low of $13.02 and a 52 week high of $19.46.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.44 EPS 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, sell-side analysts forecast that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 31st were paid a $0.06 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.24 annualized dividend and a dividend yield of 1.44%. Old Second Bancorp’s payout ratio is 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.