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

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a large 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 volume of 242,400 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.9% of the company’s stock are sold short.

Analysts Set New Price Targets

Several research firms have recently weighed in on OSBC. Keefe, Bruyette & Woods upped their price objective on Old Second Bancorp from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Raymond James upgraded Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Stephens increased their price target on Old Second Bancorp from $21.00 to $22.00 and gave the stock 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.90.

Insider Activity

In related news, Director Rocks Patti Temple acquired 5,625 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the acquisition, the director now owns 18,679 shares in the company, valued at $332,299.41. This trade represents a 43.09 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP increased its position in Old Second Bancorp by 70.1% during the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 974 shares in the last quarter. R Squared Ltd bought a new stake in shares of Old Second Bancorp in the fourth quarter worth $96,000. Quantbot Technologies LP grew its position in shares of Old Second Bancorp by 134.0% in the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock valued at $98,000 after buying an additional 3,587 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Old Second Bancorp during the third quarter worth about $101,000. Finally, Aquatic Capital Management LLC lifted its stake in shares of 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 worth $141,000 after acquiring an additional 2,556 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Old Second Bancorp Stock Up 0.2 %

Shares of Old Second Bancorp stock traded up $0.04 on Monday, reaching $16.56. 195,534 shares of the company were exchanged, compared to its average volume of 231,316. Old Second Bancorp has a one year low of $13.02 and a one year high of $19.46. The company has a market capitalization of $745.98 million, a price-to-earnings ratio of 8.86 and a beta of 1.04. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $18.17 and a 200 day moving average of $17.53.

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

Old Second Bancorp Dividend Announcement

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