Old Second Bancorp, Inc. (NASDAQ:OSBC) Sees Large Increase in Short Interest

Old Second Bancorp, Inc. (NASDAQ:OSBC) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 501,400 shares, an increase of 23.9% from the February 28th total of 404,700 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily volume of 246,600 shares, the short-interest ratio is presently 2.0 days.

Old Second Bancorp Price Performance

OSBC opened at $16.79 on Thursday. Old Second Bancorp has a 1 year low of $13.20 and a 1 year high of $19.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $756.34 million, a price-to-earnings ratio of 8.98 and a beta of 1.04. The firm’s fifty day moving average price is $17.87 and its two-hundred day moving average price is $17.52.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share 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%. As a group, analysts anticipate that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 31st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, January 31st. Old Second Bancorp’s dividend payout ratio is presently 12.83%.

Institutional Trading of Old Second Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP grew its stake in Old Second Bancorp by 70.1% in the 4th quarter. Quarry LP now owns 2,363 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 974 shares during the period. R Squared Ltd purchased a new position in shares of Old Second Bancorp in the 4th quarter worth about $96,000. Quantbot Technologies LP grew its position in Old Second Bancorp by 134.0% during the third 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 period. Point72 DIFC Ltd purchased a new stake in Old Second Bancorp during the third quarter worth about $101,000. Finally, Aquatic Capital Management LLC raised its position in 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 owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Raymond James upgraded shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on shares of Old Second Bancorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Stephens raised their price target on shares of 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 investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, 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.