Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Up 28.8% in February
by Michael Walen · The Markets DailyOld Second Bancorp, Inc. (NASDAQ:OSBC – Get Free Report) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 1,461,147 shares, a growth of 28.8% from the January 29th total of 1,134,585 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average daily trading volume, of 323,886 shares, the days-to-cover ratio is presently 4.5 days. Based on an average daily trading volume, of 323,886 shares, the days-to-cover ratio is presently 4.5 days. Approximately 2.9% of the company’s shares are short sold.
Insider Activity
In other Old Second Bancorp news, insider Darin Patrick Campbell sold 35,000 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total transaction of $732,900.00. Following the completion of the transaction, the insider owned 274,589 shares in the company, valued at approximately $5,749,893.66. This represents a 11.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of Old Second Bancorp stock in a transaction that occurred on Thursday, February 5th. The shares were 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 37,091 shares of company stock worth $776,744. Corporate insiders own 3.80% of the company’s stock.
Hedge Funds Weigh In On Old Second Bancorp
A number of institutional investors have recently modified their holdings of OSBC. Harbour Investments Inc. acquired a new position in shares of Old Second Bancorp in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its position in Old Second Bancorp by 458.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,215 shares during the period. State of Alaska Department of Revenue bought a new stake in Old Second Bancorp during the 3rd quarter worth approximately $30,000. Parkside Financial Bank & Trust acquired a new position in Old Second Bancorp in the 4th quarter valued at approximately $45,000. Finally, Clearstead Advisors LLC raised its stake in shares of Old Second Bancorp by 793.8% during the fourth quarter. Clearstead Advisors LLC now owns 2,431 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 2,159 shares during the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.
Old Second Bancorp Trading Up 0.8%
OSBC stock opened at $20.05 on Thursday. Old Second Bancorp has a 52 week low of $14.14 and a 52 week high of $22.00. The company has a market capitalization of $1.06 billion, a PE ratio of 12.30 and a beta of 0.79. The company’s 50-day simple moving average is $20.21 and its 200 day simple moving average is $19.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91.
Old Second Bancorp (NASDAQ:OSBC – Get Free Report) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The firm had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $82.49 million. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%. As a group, sell-side analysts anticipate that Old Second Bancorp will post 1.86 earnings per share for the current year.
Old Second Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Friday, January 30th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, January 30th. This represents a $0.28 annualized dividend and a yield of 1.4%. Old Second Bancorp’s dividend payout ratio is presently 17.18%.
Analyst Upgrades and Downgrades
OSBC has been the topic of a number of recent analyst reports. DA Davidson lifted their price target on Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Old Second Bancorp presently has an average rating of “Moderate Buy” and an average price target of $22.63.
Check Out Our Latest Report on OSBC
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.