Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Up 22.0% in March

by · The Markets Daily

Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 611,800 shares, an increase of 22.0% from the March 15th total of 501,400 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average trading volume of 236,700 shares, the short-interest ratio is presently 2.6 days.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Old Second Bancorp from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Stephens lifted their price objective on shares of 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Old Second Bancorp has an average rating of “Buy” and a consensus target price of $20.90.

Read Our Latest Analysis on OSBC

Old Second Bancorp Stock Performance

Shares of NASDAQ OSBC traded up $0.02 during trading hours on Friday, reaching $14.78. The stock had a trading volume of 211,995 shares, compared to its average volume of 252,687. The firm has a market cap of $665.79 million, a price-to-earnings ratio of 7.90 and a beta of 0.84. The firm has a 50-day moving average of $16.74 and a 200-day moving average of $17.41. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp has a fifty-two week low of $13.26 and a fifty-two week high of $19.46.

Old Second Bancorp (NASDAQ:OSBC – Get Free Report) last announced its 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%. Equities research analysts predict that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 25th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, April 25th. This represents a $0.24 dividend on an annualized basis and a yield of 1.62%. Old Second Bancorp’s payout ratio is currently 12.83%.

Institutional Trading of Old Second Bancorp

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in shares of Old Second Bancorp by 31.2% during the 1st quarter. SG Americas Securities LLC now owns 44,275 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 10,517 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Old Second Bancorp by 4,125.0% during the 1st quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 5,280 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Old Second Bancorp by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 336,637 shares of the financial services provider’s stock worth $5,985,000 after purchasing an additional 14,100 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Old Second Bancorp by 9.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 61,748 shares of the financial services provider’s stock valued at $1,098,000 after acquiring an additional 5,404 shares in the last quarter. Finally, PharVision Advisers LLC acquired a new stake in shares of Old Second Bancorp in the 4th quarter valued at $178,000. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Company Profile

(Get Free Report)

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.

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