Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Decreases By 23.1%

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 1,124,152 shares, a drop of 23.1% from the February 12th total of 1,461,147 shares. Based on an average daily volume of 298,321 shares, the short-interest ratio is currently 3.8 days. Approximately 2.2% of the company’s stock are sold short. Approximately 2.2% of the company’s stock are sold short. Based on an average daily volume of 298,321 shares, the short-interest ratio is currently 3.8 days.

Old Second Bancorp Stock Up 0.7%

NASDAQ OSBC traded up $0.13 during mid-day trading on Monday, reaching $19.61. The stock had a trading volume of 246,721 shares, compared to its average volume of 364,256. The stock has a market cap of $1.03 billion, a PE ratio of 12.03 and a beta of 0.79. Old Second Bancorp has a 1 year low of $14.14 and a 1 year high of $22.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. The company has a fifty day moving average price of $20.20 and a 200 day moving average price of $19.14.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $82.49 million. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%. On average, 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 disclosed a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Friday, January 30th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, January 30th. Old Second Bancorp’s dividend payout ratio (DPR) is presently 17.18%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OSBC shares. DA Davidson raised their price target on Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old Second Bancorp in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Old Second Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $22.63.

Insider Activity at Old Second Bancorp

In other news, insider Darin Patrick Campbell sold 35,000 shares of Old Second Bancorp stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total transaction of $732,900.00. Following the completion of the transaction, the insider directly owned 274,589 shares in the company, valued at approximately $5,749,893.66. This trade represents a 11.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $20.98, for a total value of $41,960.00. Following the completion of the sale, the executive vice president directly owned 24,874 shares in the company, valued at approximately $521,856.52. This represents a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 37,091 shares of company stock valued at $776,744 over the last quarter. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC grew its stake in shares of Old Second Bancorp by 1.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 493 shares during the period. Nisa Investment Advisors LLC lifted its position in Old Second Bancorp by 12.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 540 shares during the period. Quadrant Capital Group LLC lifted its position in Old Second Bancorp by 32.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 622 shares during the period. Russell Investments Group Ltd. boosted its holdings in Old Second Bancorp by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider’s stock worth $2,186,000 after purchasing an additional 908 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. grew its position in Old Second Bancorp by 1.6% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 61,653 shares of the financial services provider’s stock worth $1,066,000 after purchasing an additional 979 shares during the period. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.