Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Grows By 40.0%

Old Second Bancorp, Inc. (NASDAQ:OSBC) saw a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,573,727 shares, an increase of 40.0% from the February 26th total of 1,124,152 shares. Currently, 3.1% of the company’s stock are short sold. Based on an average daily trading volume, of 406,184 shares, the short-interest ratio is currently 3.9 days.

Old Second Bancorp Stock Performance

Shares of NASDAQ:OSBC traded down $0.13 during trading on Friday, reaching $19.57. 267,873 shares of the stock were exchanged, compared to its average volume of 432,563. Old Second Bancorp has a 12 month low of $14.14 and a 12 month high of $22.00. The stock has a 50-day moving average price of $20.08 and a 200-day moving average price of $19.21. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.03 billion, a PE ratio of 12.01 and a beta of 0.79.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $95.20 million for the quarter, compared to analyst estimates of $82.49 million. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%. Research analysts expect that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Friday, January 30th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, January 30th. Old Second Bancorp’s payout ratio is presently 17.18%.

Insider Activity

In other Old Second Bancorp news, insider Darin Patrick Campbell sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total value of $732,900.00. Following the completion of the transaction, the insider directly owned 274,589 shares in the company, valued at $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 available through this link. 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 transaction, the executive vice president directly owned 24,874 shares in the company, valued at $521,856.52. This trade represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,091 shares of company stock valued at $776,744 in the last 90 days. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Old Second Bancorp

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Old Second Bancorp by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider’s stock valued at $63,929,000 after purchasing an additional 8,395 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Old Second Bancorp by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,260,874 shares of the financial services provider’s stock worth $44,087,000 after purchasing an additional 55,990 shares during the period. FJ Capital Management LLC increased its holdings in shares of Old Second Bancorp by 4.5% during the third quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock worth $33,186,000 after purchasing an additional 82,601 shares during the period. Davis Asset Management L.P. raised its position in shares of Old Second Bancorp by 16.4% in the fourth quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider’s stock valued at $34,038,000 after buying an additional 245,523 shares in the last quarter. Finally, State Street Corp raised its position in shares of Old Second Bancorp by 12.6% in the fourth quarter. State Street Corp now owns 1,539,419 shares of the financial services provider’s stock valued at $30,019,000 after buying an additional 171,941 shares in the last quarter. 67.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Stephens began coverage on Old Second Bancorp in a report on Friday. They set an “overweight” rating and a $23.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. Finally, DA Davidson upped their price objective on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Old Second Bancorp has an average rating of “Moderate Buy” and a consensus target price of $23.38.

About Old Second Bancorp

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.