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

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

Old Second Bancorp Stock Up 0.3 %

Old Second Bancorp stock traded up $0.05 during mid-day trading on Tuesday, hitting $16.61. The company’s stock had a trading volume of 187,666 shares, compared to its average volume of 231,203. The firm’s 50 day moving average is $18.15 and its 200 day moving average is $17.52. The company has a market cap of $748.23 million, a PE ratio of 8.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. 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 posted its quarterly 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, analysts anticipate that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 31st were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, January 31st. Old Second Bancorp’s dividend payout ratio (DPR) is presently 12.83%.

Insider Activity

In related news, Director Rocks Patti Temple bought 5,625 shares of Old Second Bancorp stock in a transaction dated Monday, December 23rd. The stock was acquired 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 approximately $332,299.41. This trade represents a 43.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OSBC. Boothbay Fund Management LLC acquired a new position in shares of Old Second Bancorp during the 4th quarter valued at about $6,084,000. Millennium Management LLC increased its holdings in shares of Old Second Bancorp by 452.4% during the 4th quarter. Millennium Management LLC now owns 308,223 shares of the financial services provider’s stock valued at $5,480,000 after acquiring an additional 252,430 shares during the last quarter. River Street Advisors LLC acquired a new position in shares of Old Second Bancorp during the 4th quarter valued at about $3,363,000. Nuveen Asset Management LLC increased its holdings in shares of Old Second Bancorp by 188.2% during the 4th quarter. Nuveen Asset Management LLC now owns 281,572 shares of the financial services provider’s stock valued at $5,006,000 after acquiring an additional 183,869 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Old Second Bancorp by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 2,637,718 shares of the financial services provider’s stock valued at $46,899,000 after acquiring an additional 181,783 shares during the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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